Aramco CEO Warns of Two-Year Lag to Restock Global Oil Supplies

Saudi Aramco CEO Amin Nasser has cautioned that rebuilding global oil inventories could take up to two years, amid ongoing supply disruptions fueled by the U.S.-Iran conflict. Speaking at the Energy Intelligence conference in London, Nasser highlighted that nearly 3 billion barrels of oil supply have been lost since the war began, with about 1 billion barrels drawn from existing stockpiles.

The supply squeeze is expected to worsen as long as the war persists, particularly until the Strait of Hormuz fully reopens and market confidence is restored. Despite some recovery in Middle East crude flows, with higher exports through the Strait of Hormuz and Saudi Arabia’s East-West pipeline, the pressure on oil supplies remains intense.

Oil prices have seen slight declines as crude flows have improved, but Nasser emphasized that the market will continue to face challenges until stability returns. The long-term outlook remains uncertain, with the potential for further disruptions depending on the trajectory of the conflict.