Business · Energy & Commodities · 9 hrs ago
Aramco chief says rebuilding oil stocks could take up to two years
Amin Nasser, head of Saudi Aramco, said global crude oil supplies are under serious pressure.
He said the strain on energy markets will grow until the Strait of Hormuz is fully reopened.
The strait is an important route for energy supplies, and the story does not explain why it is closed.
Land-based commercial oil stocks have fallen to well below 6 billion, Nasser said, describing them as the last line of defence.
He warned that rebuilding stocks while also meeting demand could take up to two years.
He said countries need to work together to protect energy infrastructure and supply routes.
Aramco is expanding its overseas storage facilities and aims to increase gas sales and production capacity by about 80% by 2030, compared with 2021 levels.
Aramco chief Amin Nasser said rebuilding oil stocks while meeting demand could take up to two years.
He warned that pressure on global crude oil supplies has become serious.
Nasser said commercial onshore inventories had fallen to well below 6 billion, making them the last line of defence.
He said pressure across the energy supply chain would increase until the Strait of Hormuz fully reopens.
Aramco is expanding overseas storage facilities and aims to raise gas sales and production capacity by about 80% by 2030, compared with 2021 levels.
- Who
- Amin Nasser, head of Saudi Aramco.
- What
- He warned that rebuilding oil stocks while meeting demand could take up to two years.
- When
- The article was published on October 12, 2026.
- Where
- The pressures are described as global; Nasser also referred to the Strait of Hormuz.
- Why
- Oil stocks have fallen sharply, while energy supply pressures persist and demand must still be met.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Stock rebuilding
- Could take up to two years while meeting demand
- Onshore commercial inventories
- Below 6 billion
- Aramco gas target
- Increase sales and production capacity by about 80% by 2030
- Baseline for gas target
- 2021 levels
What people are saying
Pressures will increase across the energy supply chain until the Strait of Hormuz fully reopens.
Rebuilding oil stocks, while meeting demand, could take up to two years.
Sources
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