Saudi Aramco CEO Warns Global Oil Stockpiles Are 'Scarily Thin' Amid Ongoing Conflict

Global oil inventories have fallen to dangerously low levels, with commercial stockpiles standing below 6 billion barrels, Saudi Aramco CEO Amin Nasser warned. Over the past seven months, conflict involving the US, Israel, and Iran has cut regional supply by nearly 3 billion barrels. More than 1 billion barrels have been withdrawn from stockpiles to offset shortages, including over 300 million from strategic reserves. Aramco cautioned that replenishing depleted inventories could take up to two years once hostilities end. Brent crude has traded near $100 per barrel as supply bottlenecks persist.