Aramco CEO: Commercial crude oil inventories have now fallen to less than 6 billion barrels.

October 5: The CEO of Saudi Aramco stated that the world held nearly 10 billion barrels of oil inventory when the crisis broke out, and has now lost nearly 3 billion barrels of crude oil supply, equivalent to about half of the total crude oil and oil products originally transported through the Strait of Hormuz.

More than 1 billion barrels have been released from inventory to alleviate the supply loss, most of which came from onshore commercial inventories, which is the "last major tool." Currently, commercial inventories have dropped to less than 6 billion barrels, and the vast majority is effectively inaccessible.