23 Hrs
Source:
البلاد
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Al-Nasser: Aramco can deliver 12M barrels quickly
Saudi Aramco has achieved the capacity to supply 12 million barrels of oil per day and is currently meeting all customer demands, without the need to utilize strategic reserves so far. CEO Amin Nasser confirmed that the instability in the oil market is caused by pressure on the Strait of Hormuz, and it is expected that replenishing the global inventories that have been drawn down will take approximately two years. He explained that current conditions are exerting increasing pressure on the market, and rebuilding inventories again will take a long time even after reopening the strait and restoring confidence in the markets.
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