Why are global oil refineries running at near maximum capacity, according to Aramco?

According to Aramco CEO Amin Nasser, the global refining system is stretched heavily because refineries are operating at near maximum utilization rates, driven by a combination of war in the Middle East and Ukrainian strikes on Russian energy facilities—which have forced some plants offline and pushed operational ones to run at maximum capacity.

What does Aramco warn could happen if refineries suffer a major unplanned or prolonged shutdown?

Aramco CEO Amin Nasser warned that if refineries were to suffer any major unplanned or prolonged shutdown, the global energy supply system could face more severe pressure—highlighting the absence of shock absorbers or buffers in the current refining system.

Aramco Sees Oil Refineries Running Flat Out as Buffers Run Thin

Aug 4, 2026

Saudi Aramco warns global refineries operate near max capacity amid geopolitical tensions, leaving minimal buffers against rising fuel prices and potential supply shocks.

bloomberg

2026-03-10

Saudi Aramco CEO: Middle East Oil & Gas Faces Historic Crisis, 180 Million Barrels Supply Interrupted

2026-04-01

Ketjen and Saudi Aramco Partner on Next-Gen FCC Catalyst R&D

2026-05-21

Report Finds Safety Risks and Labor Rights Abuses in Aramco Supply Chain

2026-06-17

Aramco Lines Up More Asset Sales to Raise Tens of Billions, Sources Say

2026-08-04

Aramco Sees Oil Refineries Running Flat Out as Buffers Run Thin

Aramco Sees Oil Refineries Running Flat Out as Buffers Run Thin

FAQ