According to him, since the crisis began around the Strait of Hormuz, nearly 3 billion barrels of supply have been lost.
The remaining approximately 6 billion barrels in storage are "virtually inaccessible" – they are either not in the right location, are the wrong type of crude, or belong to owners who are unwilling to use them.
The world consumes over 100 million barrels of oil per day, which means that the remaining reserves are only sufficient for less than 2 months of global demand.
Even if the Strait of Hormuz were to open today, Aramco says it could take up to 2 years to replenish the reserves to a safe level.
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