17 Hrs
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الاقتصادية
Aramco CEO: Oil stock recovery may take two years
The CEO of Saudi Aramco, Amin Nasser, warned that pressures on crude oil supplies have become severe, with commercial oil inventories dropping below 6 billion barrels, reaching the lowest level considered as the last line of defense. He explained that replenishing these inventories could take up to two years, while challenges to energy markets are mounting in preparation for a full opening of the Strait of Hormuz. He pointed out that the company is working on expanding external storage facilities and increasing gas production by up to 80% by 2030 compared to 2021 levels, with the aim of safeguarding energy supply chains through international collaborative efforts.
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