[President of Saudi Aramco: Global crude oil inventories are approaching “dangerous lows”] On October 13, Saudi Aramco President and CEO Amin Nasser stated at the 25th World Petroleum Council Energy Conference (World Petroleum Conference) on the 12th that global crude oil inventories are approaching “extremely dangerous” lows, and it may take two years to return to normal levels. Affected by the situation in the Strait of Hormuz, the global energy supply chain continues to be under pressure, and crude oil supply tension has intensified. Nasser said that current commercial onshore oil inventories are below 6 billion barrels, which is the "last available buffer", but the vast majority of these inventories cannot actually be used by the market. Nasser believes that as global crude oil consumption demand continues to rise, even if the Strait of Hormuz is fully reopened in the short term and market confidence is fully restored, it will take at least two years of "overloaded overtime production" to completely replenish depleted inventories. Nasser said that the current international diesel price has reached about US$200 per barrel. The rising prices have put pressure on the global energy market, highlighting the importance of strengthening international cooperation and working together to ensure the safety of energy infrastructure and transportation routes. Nasser said Saudi Aramco plans to further increase natural gas sales and increase its production capacity by about 80% from 2021 levels by 2030 to meet growing energy demand. (CCTV News)