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ReportedShipping, energy & marketsLondon, United Kingdom

Aramco CEO Amin Nasser says global oil inventories are critically thin

Mountain Time
Local time
3:30 PM in London
Where
London, United Kingdom

Saudi Aramco CEO Amin Nasser told the Energy Intelligence Forum in London that the Iran war had removed nearly 3 billion barrels of gross oil supply and that more than 1 billion barrels had been drawn from inventories. He said the remaining supply-resilience cushion was "scarily thin."

Why it matters

Thin commercially available inventories reduce the buffer against another disruption to Hormuz or regional production, making emergency-stock and supply-routing decisions more consequential.

Source

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels