Saudi Aramco Chief Executive Amin Nasser says global crude inventories could take as long as two years to rebuild, underscoring the strain created by years of underinvestment and limited spare capacity.
• Nasser’s warning suggests that supply disruptions or unexpected demand growth could quickly tighten markets.
• Oil producers have reduced investment in new fields as prices, climate policies and shareholder pressure reshaped spending decisions.
• Rebuilding inventories depends on sustained production, stable demand and sufficient investment across the energy sector.
• The outlook could keep crude prices vulnerable to geopolitical shocks, extreme weather and operational outages.
• Consumers may continue to feel the effects through fuel prices and broader transportation and manufacturing costs.
The comments come as energy markets balance efforts to maintain supply with the longer-term shift toward lower-carbon fuels. While demand growth may moderate over time, the transition has not yet eliminated the world’s dependence on oil. Aramco remains one of the industry’s largest producers, giving its assessment significant weight among traders, governments and other energy companies.