Aramco CEO Warns of 'Scary Thin' Global Oil Inventories
Key Facts
Aramco's CEO described global oil inventories as being "scary thin," according to Investing.com. The comments were made as market participants monitor supply levels following the OPEC+ decision to maintain production quotas for November.
The warning from the major producer suggests a tight supply-demand balance despite the lack of new policy actions. This assessment follows recent inventory data, including the API Crude Oil Stock Change report on September 29, 2026, which indicated an increase of 1.019 million barrels.
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Update: Aramco's CEO clarified that rebuilding global inventories could take two years, warning that less than 10% of current stocks are practically available for use. He further noted that approximately 3 billion barrels of supply have been lost since the conflict began, deepening the supply crisis.