Oil executives warn the market’s emergency cushion is nearly gone

Oil executives meeting in London say the market has used up much of the inventory that normally softens supply shocks. The key distinction is between oil that exists in tanks and oil that can actually reach buyers: some is trapped in pipelines, needed to keep facilities running, or held back under rules governing emergency reserves. Saudi Aramco CEO Amin Nasser said commercial inventories are below 6 billion barrels and that 10% or less is practically available, after more than 1 billion barrels were released this year. That does not mean oil will immediately run out, but it leaves less room to absorb another disruption—making prices, especially for diesel, more vulnerable and replenishment harder alongside normal demand.