Aramco chief executive Amin Nasser has raised alarm over the state of global oil inventories, saying less than 10% of available stocks can be practically used. He described the situation as “scarily thin” and warned that rebuilding reserves could take nearly two years even if supply routes reopen fully.
Global oil inventories have fallen sharply from nearly 10 billion barrels to under 6 billion barrels, with much of the remaining stock not easily accessible. Governments are preparing to release about 100 million barrels of oil and diesel from emergency reserves, but Nasser cautioned that such measures provide only short‑term relief. More than 1 billion barrels have already been drawn down to offset lost supplies, while refined fuel prices are rising faster than crude, adding pressure on consumers.
The Strait of Hormuz remains partly blocked after recent military strikes, restricting Gulf oil flows. Brent crude has hovered near $100 per barrel in recent weeks, reflecting market uncertainty.
Aramco has increased shipments from Ras Tanura, restored its East‑West pipeline to 80% capacity, and is exploring new export routes including ship‑to‑ship transfers and overseas storage. The company assured it can make 12 million barrels per day available within days if required.
The warning highlights fragile energy security and signals that rebuilding global reserves will be slow and uncertain.