Archive · 5 Oct 2026
Aramco CEO Warns Shrinking Oil Stocks Raise Market Risks
Countries keep oil in storage so they have extra supplies when deliveries are disrupted.
Amin Nasser of Saudi Aramco says those stored supplies have become very low.
He said releasing some emergency oil can help for a while, but it will not solve the bigger mismatch between how much oil people need and how much is supplied.
The amount of oil in global stocks has dropped from about 10 billion barrels to less than 6 billion since the US-Iran war began, he said.
He warned that oil and fuel prices may remain under pressure until ships can travel normally through the Strait of Hormuz and confidence returns.
Rebuilding the stocks could take up to two years, and demand for oil could rise as countries refill them.
Gulf producers have increased shipments, but markets still reflect concerns about security and possible supply interruptions.
Brent crude has traded around $100 a barrel over the past month.
Saudi Aramco chief Amin Nasser said global oil stockpiles have become dangerously low, increasing markets’ vulnerability to supply disruptions.
He said emergency releases of up to 100 million barrels of oil and diesel may offer temporary relief but will not correct supply-demand imbalances.
Nasser said global stocks fell from about 10 billion barrels when the US-Iran war began to less than 6 billion, with only about 10% practically available.
He warned pressure on crude and refined-fuel markets could intensify until confidence returns and shipping through the Strait of Hormuz fully resumes.
Gulf producers have raised exports, but Brent has traded around $100 a barrel; Aramco says its East-West pipeline is operating at about 80% of capacity.
- Who
- Amin Nasser, chief executive of Saudi Aramco.
- What
- Nasser warned that depleted global oil stocks leave markets exposed to supply disruptions and said emergency releases will not resolve underlying imbalances.
- When
- Monday; the articles do not provide a calendar date.
- Where
- The Energy Intelligence Forum in London; the supply concerns center on the Strait of Hormuz and the Persian Gulf.
- Why
- Conflict-related disruptions to shipping and falling inventories have raised the risk of further supply interruptions.
- Speaker
- Amin Nasser, chief executive of Saudi Aramco
- Forum
- Energy Intelligence Forum in London
- Emergency reserve plans
- Major economies announced plans to release up to 100 million barrels of oil and diesel.
- Global oil stocks
- Nasser said stocks fell from about 10 billion barrels when the US-Iran war began to less than 6 billion.
- Practically available stocks
- About 10% of remaining stocks, according to Nasser.
- Inventory recovery
- Rebuilding depleted inventories could take up to two years after Hormuz fully reopens.
- Brent crude
- Traded around $100 per barrel over the past month.
- East-West pipeline
- Flows restored to about 80% of capacity after a temporary disruption.
