Aramco Warns of Global Oil Inventories Running Low Amid Strait of Hormuz Disruptions

Aramco's CEO Amin Nasser warned that global oil inventories are running low due to disruptions in the Strait of Hormuz, which has seen over 2.6 billion barrels of oil lost since February.

This is equivalent to nearly a month of normal global crude production and highlights the scale of the disruption that has impacted energy markets.

Nasser stated that even if the strait were to open today, it would take up to 18 months at an average rate of 2.1 million barrels per day to replenish depleted inventories.