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Saudi Aramco CEO Amin Nasser said an additional 2 million barrels per day could be needed for up to two years to rebuild global inventories, plus 1 million bpd for expanded commercial and emergency reserves, even if the US-Iran conflict ends immediately. He said Aramco could return to pre-conflict output of about 10.4 million bpd within days, while countries are requesting more storage.
Restocking demand on top of the supply loss from the Iran conflict would tighten crude balances and support prices, while potential Saudi output growth could test OPEC+ quota discipline.
agbi.comFrancesca Washtell, Edmund BowerNov 3, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
