Global oil stockpiles remain at severely depleted levels because of the conflict between the United States and Iran, according to Saudi Aramco chief executive Amin Nasser. Addressing attendees at the Energy Intelligence Forum in London, Nasser cautioned that the petroleum system is currently under severe strain. His remarks came shortly after Group of Seven nations agreed to release additional inventories to mitigate mounting supply pressures. Before that decision, President Donald Trump had urged the European Union to open its strategic diesel reserves, warning of a potential American ban on diesel shipments if it refused. Nasser cautioned observers against relying solely on top-line reserve figures, pointing out that less than ten percent of the reported totals are actually available for use.
Saudi Aramco chief calls global oil inventories scarily thin
Amin Nasser told an energy forum in London that less than ten percent of reported reserves are actually available.
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In short
- Saudi Aramco chief Amin Nasser warned that global oil reserves are scarily thin due to the US-Iran war.
- He told the Energy Intelligence Forum in London that less than ten percent of reported reserves are available.
- The warning follows a Group of Seven agreement to release more inventories to ease supply concerns.
From public sources and the WeNepal research team
https://wenepal.com/article/saudi-aramco-chief-calls-global-oil-inventories-scarily-thin-20261005
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