Saudi Aramco chief says rebuilding oil inventories could take two years

Saudi Aramco CEO Amin Nasser said global oil inventories could take as long as two years to recover, as the U.S.Iran war continues to disrupt supply routes and tighten the market. Speaking at an energy conference in London, Nasser said the conflict has removed billions of barrels of supply and forced governments to draw on stockpiles. He warned that the pressure on oil markets could worsen until shipping through the Strait of Hormuz fully normalizes and confidence returns. The comments came after G7 countries agreed to release emergency fuel reserves, while oil flows through the Middle East showed some improvement. Prices were mixed on Monday as exports through the Strait of Hormuz and Saudi Arabia’s EastWest pipeline rose, easing some concerns but leaving the market under strain.