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Global Oil Reserves at Dangerous Stage: Saudi Aramco CEO Warns
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News18•05-10-2026, 16:34
Global Oil Reserves at Dangerous Stage: Saudi Aramco CEO Warns
- •Saudi Aramco CEO Amin Nasser has warned that global crude oil reserves available to meet demand have dropped to a dangerous level.
- •Pressure on crude oil and fuel prices will intensify until the Strait of Hormuz shipping route is fully reopened and normalcy returns.
- •Releasing emergency reserves provides only temporary relief, and it could take up to two years for consuming nations to fully replenish reserves after Hormuz reopens.
- •Gulf nations like Saudi Arabia, UAE, and Kuwait are actively working to restore exports using their own tanker vessels through Hormuz.
Key Questions Answered
Saudi Aramco CEO Amin Nasser warned that global oil reserves available to meet crude oil demand have dropped to a dangerous level due to ongoing Middle East conflicts disrupting the Strait of Hormuz.
Amin Nasser stated that even after the Hormuz shipping lane reopens, it could take at least two years for consuming nations to fully replenish their depleted emergency oil reserves.
Saudi Aramco has been utilizing and optimizing its East-West pipeline, which transports oil from the eastern fields to the Red Sea, resuming operations at 80% capacity to export more oil and bypass the Strait of Hormuz.
