Saudi Aramco chief says replenishing global oil stockpiles could take two years
Description: Saudi Aramco CEO Amin Nasser warned that global oil inventories could take up to two years to rebuild as the U.S.-Iran war continues to disrupt energy supplies.
The closure of the Strait of Hormuz, a major route for roughly 20% of global oil and liquefied natural gas supplies, has sharply reduced shipments and increased pressure on markets.
Nasser said crude and refined-fuel supplies remain especially tight and that the situation could worsen until Hormuz fully reopens and confidence returns to energy markets.
The Group of Seven has agreed to release 100 million barrels of crude and diesel from emergency reserves, but industry executives say this would provide only temporary relief, CNBC has reported.
The prolonged disruption is keeping oil prices above $100 a barrel and raising concerns that tight energy markets could persist into 2027 and beyond.
read more: https://www.cnbc.com/2026/10/05/aramco-saudi-arabia-iran-hormuz-oil-energy.html
Links for B.C.
Visit My Website
https://bcbegley.com
Follow Me On Facebook
https://www.facebook.com/B.C.Begley
Subscribe To My Patreon
https://www.patreon.com/bcbegley
Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A
Follow Me On Twitter
https://twitter.com/BC_News1
Watch Me On Rumble
https://rumble.com/c/c-280191
Follow Me On Gab
https://gab.com/BC_Begley
Follow Me On Truth Social
https://truthsocial.com/@BC_Begley
Follow Me On BlueSky
https://bsky.app/profile/bcbegley.bsky.social
Watch Me On TikTok
https://www.tiktok.com/@bcbegley Close description
The closure of the Strait of Hormuz, a major route for roughly 20% of global oil and liquefied natural gas supplies, has sharply reduced shipments and increased pressure on markets.
Nasser said crude and refined-fuel supplies remain especially tight and that the situation could worsen until Hormuz fully reopens and confidence returns to energy markets.
The Group of Seven has agreed to release 100 million barrels of crude and diesel from emergency reserves, but industry executives say this would provide only temporary relief, CNBC has reported.
The prolonged disruption is keeping oil prices above $100 a barrel and raising concerns that tight energy markets could persist into 2027 and beyond.
read more: https://www.cnbc.com/2026/10/05/aramco-saudi-arabia-iran-hormuz-oil-energy.html
Links for B.C.
Visit My Website
https://bcbegley.com
Follow Me On Facebook
https://www.facebook.com/B.C.Begley
Subscribe To My Patreon
https://www.patreon.com/bcbegley
Watch Me On YouTube
https://www.youtube.com/channel/UCGoUf-QQTlTN-BIh3ERCE9A
Follow Me On Twitter
https://twitter.com/BC_News1
Watch Me On Rumble
https://rumble.com/c/c-280191
Follow Me On Gab
https://gab.com/BC_Begley
Follow Me On Truth Social
https://truthsocial.com/@BC_Begley
Follow Me On BlueSky
https://bsky.app/profile/bcbegley.bsky.social
Watch Me On TikTok
https://www.tiktok.com/@bcbegley Close description
