Aramco CEO Warns Oil Inventories Are ‘Scarily Thin’
Headline from Oil Price
Saudi Aramco CEO Amin Nasser warned Monday that the world has lost nearly 3 billion barrels of gross oil supply since the Iran war began, equivalent to roughly half the crude and products that normally would have moved through the Strait of Hormuz over the same period, leaving global inventories “sc…
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The oil stockpiles that cushion the world from supply shocks have become “scarily thin,” putting markets at risk of worsening unless the Strait of Hormuz reopens, according to the head of Saudi Arabia’s state producer.
Aramco CEO Amin Nasser said the oil supply cushion is "scarily thin" after nearly 3 billion barrels of regional supply were disrupted; rebuilding could take two years.
Saudi Aramco CEO Amin Nasser warned Monday that the world has lost nearly 3 billion barrels of gross oil supply since the Iran war began, equivalent to roughly half the crude and products that normally would have moved through the Strait of Hormuz over the same period, leaving global inventories “sc…
