LONDON: Global oil stockpiles have become “scarily thin” amid the ongoing US-Iran war, Saudi Aramco Chief Executive Amin Nasser warned on Monday, as concerns over global supply resilience continue to mount.
Speaking at the Energy Intelligence Forum in London, Nasser said the global oil supply system was already under considerable strain, with limited additional capacity available to absorb further disruptions.
“The system is already straining,” Nasser said, warning that the world had very few alternatives to rely on and that the remaining supply resilience cushion was “scarily thin.”
His comments came days after G7 nations agreed to release additional oil from their strategic inventories in an effort to ease supply concerns and stabilise global markets.
The warning underscores growing concerns over the ability of global oil markets to withstand prolonged disruptions, particularly as geopolitical tensions continue to threaten production, transportation and supply routes.
By AFP
