Saudi Aramco can deliver 12 million barrels daily
Amin Nasser, the Chief Executive Officer of Saudi Aramco, noted that Brent crude oil prices would have reached $200 per barrel if it weren't for the East-West pipeline, amidst pressures on energy supplies and markets. He confirmed that the company is capable of meeting demand with an output of 12 million barrels per day within days, and that rebuilding global oil inventories could take up to two years, considering current sharp declines which have brought inventories below 6 billion barrels. He also predicted that oil demand would remain stable over the next two years, supported by growing Chinese demand for the chemical industries, while the company works on improving export routes to address shipping disruptions and supply chain issues.
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