Monday, 5 October 2026Updated 11m ago
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Aramco CEO says rebuilding global oil inventories could take up to two years

4 sources · first seen 13:51 5 Oct · updated 16:24 5 Oct

The brief

Written from 5 reports · check the source before you trade
  • Amin Nasser warned inventories depleted by the Middle East conflict could take up to two years to rebuild
  • He said the global oil supply squeeze could worsen as the U.S.-Iran war continues
  • Supply risks could lift crude costs for Indian refiners and oil-marketing companies

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Aramco7 todayCrude oil64 todayMiddle East22 todayIran17 todayStrait of Hormuz12 today

Linked by the tag Aramco

9 stories this week
  1. 5 OctSaudi Aramco cuts November oil price to Asia to a six-year lowMarket move · 6 sources · Arab Light set at $5 a barrel below the Oman-Dubai average
  2. 5 OctBrent climbs to $103 after Houthi attacks on Saudi energy facilitiesMarket move · 5 sources · Brent crude rose 81 cents, or 0.79%, to $103.06 a barrel
  3. 5 OctOil Swings to Loss as Deep Saudi Price Cut Offsets Yemen ConcernMarket move · 1 source
  4. 4 OctHouthis claim strike on Saudi Aramco facility as Yemen fighting intensifies4 sources · Houthis claimed a missile and drone attack on a Saudi Aramco facility
  5. 4 OctYemen’s Houthis say they attacked Aramco facility in Riyadh with missiles, drones1 source
All Aramco stories →
Part of a developing story14 updates over 8 days

Middle East oil flows recover amid Hormuz risks

Middle East crude flows recovered to pre-war levels and later exceeded them, while fuel shipments faced constraints. Renewed tanker attacks and shipping risks persisted as Saudi Arabia restored pipeline capacity and sought alternative routes.

Monday, 5 October

  1. Aramco CEO says less than 10% of world oil inventory is available
  2. Saudi oil under fire, Aramco plots new routes to keep barrels flowing
  3. 4 sourcesYou are here
    Aramco CEO says rebuilding global oil inventories could take up to two years
  4. More Qatari LNG cargoes transit Strait of Hormuz despite ongoing risks
  5. Oil was pouring through the Strait of Hormuz again. Then attacks on shipping resurged.
  6. 2 sources
    Middle East crude oil exports exceed pre-war levels but tanker attacks increase

Friday, 2 October

  1. Hormuz crude flows return to pre-war levels, yet oil may still stay at $90–$100 | Here's why

See all 14 updates →

Read the reports

5 reports · earliest 13:51
Financial TimesSaudi Aramco chief warns world’s oil stockpiles are ‘scarily thin’13:51Investing.comAramco CEO says global oil stocks are ’scarily thin’ amid Hormuz risks14:14NDTV ProfitGlobal Oil Supply Buffer Running Scarily Thin,' Aramco CEO Says15:10CNBCSaudi Aramco chief says replenishing global oil stockpiles could take two years15:16Investing.comReplenishing crude and fuel stocks could take two years, Saudi Aramco CEO says16:24