CommoditiesMedium•5 October 2026•
1 min read
Aramco CEO: Global Oil Inventory Recovery May Take Two Years
Key Facts
1Saudi Aramco CEO Amin Nasser stated that replenishing global oil and fuel inventories could take up to two years.
2Nasser warned of a worsening supply squeeze amid the U.S.-Iran conflict, noting that nearly 3 billion barrels of supply have been lost.
Saudi Aramco CEO Amin Nasser stated that replenishing global oil and fuel inventories could take up to two years. Reuters reported that Nasser warned of a worsening supply squeeze amid the ongoing U.S.-Iran conflict, noting that nearly 3 billion barrels of supply have been lost.
Nasser told CNBC that global oil supply shortages will worsen, emphasizing that replenishing emergency stockpiles will be a multi-year process. These warnings come as physical markets face prolonged tightness due to significant draws from global reserves that cannot be quickly replaced.