Saudi Arabia and its oil giant Aramco are seeking to partner with other countries to expand their strategic stockpile as it sees oil demand increasing to 3 million barrels per day after the Iran war, CEO Amin Nasser told Al Arabiya Business TV on Thursday.
Nasser has previously said Aramco’s incident response is now more than six times faster than the industry average, with Saudi output recovering to about 8 million barrels a day in September.
• Saudi daily oil output dropped below 7 million barrels for most of the first six months of the war, down from over 10 million before it, according to the International Energy Agency.
• Aramco deploys inspection drones to assess damage while incidents are still unfolding, with some 90% of repair materials produced locally or held in local warehouses.
• The company is studying possible alternative export routes to the Strait of Hormuz, Bab el-Mandeb and Suez, Nasser said, without elaborating.
• “Today, our teams can handle multiple incidents simultaneously, and we continue to build this capability,” Nasser told Reuters in an earlier interview.
(Reporting by Tala Ramadan and Nayera Abdallah Editing by Tomasz Janowski)