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Saudi Aramco, Saudi Arabia Look to Team Up with Other Countries to Expand Strategic Stockpile

MT Newswires·10/22/2026 05:30:51
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05:30 AM EDT, 10/22/2026 (MT Newswires) -- Saudi Arabian Oil Co (SASE:2222), d/b/a Saudi Aramco, and its home base are seeking partnerships with other nations to build up their strategic stockpile after the US-Iran war, Reuters reported Thursday, citing the oil giant's Chief Executive Officer Amin Nasser. Speaking in an interview with Al Arabiya Business TV, Nasser said Saudi Aramco expects oil demand to increase to 3 million barrels per day once conditions return to normal, including 2 million barrels to meet rising consumption and 1 million barrels to replenish inventories.