Saudi Aramco warns of tightening crude oil supply, restocking may take up to two years

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智通财经2026/10/12 10:07

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Saudi Aramco CEO Amin Nasser stated that the global crude oil supply shortage is severe, and the surge in refined fuel prices makes the challenges even tougher.
He said that worldwide commercial onshore crude oil inventories have fallen well below 6 billion barrels, which is currently the last available buffer, and most of these inventories are currently inaccessible.
He stated that until the Strait of Hormuz is fully reopened and confidence is restored, pressure on the energy supply chain will only intensify.
He mentioned that replenishing inventories while meeting demand could take up to two years.
He said the company is exploring more crude oil export routes and is committed to expanding its overseas storage capacity.
Overall, Saudi Aramco assesses the current crude oil supply and demand situation as tight, with limited inventory buffer. Attention should be paid to the navigation status of the Strait of Hormuz, inventory replenishment progress, and adjustments to Saudi export routes moving forward.

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Saudi Aramco warns of tightening crude oil supply, restocking may take up to two years

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