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Aramco CEO warns oil inventories are running dangerously low

Saudi Aramco CEO Amin Nasser said nearly 3 billion barrels of gross oil supply have been lost since the Iran war began, leaving global inventories “scarily thin.”

Reported · Written up by our desk · Energy

Saudi Aramco CEO Amin Nasser warned that global oil inventories are “scarily thin,” saying the world has lost nearly 3 billion barrels of gross oil supply since the Iran war began, according to OilPrice.

Nasser estimated that this loss is equivalent to roughly half of the crude and products that would normally have moved through the Strait of Hormuz over the same period.

He also noted that inventory tightness persists even as crude flows from the Middle East recover, based on the outlet’s account of his comments.

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