Saudi Aramco warns of dangerously low global oil stockpiles

The chief executive of Saudi Aramco, the world’s largest oil producer, has issued a warning that global oil stockpiles are alarmingly low. Amin Nasser highlighted the thin reserves, stating that the situation is 'scarily thin,' which could lead to significant price volatility in the event of a supply disruption.

The warning comes amid growing concerns over energy security and the stability of global oil markets. Nasser emphasized that the current levels of inventories are insufficient to absorb sudden shocks, such as geopolitical tensions or unexpected disruptions in production.

The remarks underscore the delicate balance between supply and demand in the oil market. With stockpiles at critically low levels, even minor disruptions could trigger sharp price fluctuations, impacting economies worldwide.