Saudi Aramco warns stocks may take two years: what it means for Saudi Aramco stock

Published on 10/09/2026 at 13:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted net income reached SAR 251.9 billion in the first half of 2026. For Saudi Aramco stock, 18 analysts show a SAR 30.23 average target.

Key points in brief

Saudi Aramco CEO Amin Nasser said on October 5, 2026, that rebuilding global oil inventories could take two years.
The company said adjusted net income reached SAR 251.9 billion in the first half of 2026.
Saudi Aramco can make 12 million barrels per day available within days, according to Reuters.
Saudi Aramco stock trades on Tadawul under ticker 2222, with Q3 results scheduled for November 3, 2026.

Saudi Aramco, SA14TG012N13, Illustration mit AI erstellt.

Saudi Aramco (SA14TG012N13) warned on October 5, 2026, that global oil inventories could take up to two years to rebuild. CEO Amin Nasser also said the company could make its maximum sustainable capacity of 12 million barrels per day available within days, according to Reuters on October 5, 2026.

What does the warning mean?

Nasser said almost 3 billion barrels of supply had been lost, while 1 billion barrels had been released from global stocks. Reuters also reported that as much as 6 billion barrels remaining in storage were not practically available, making spare supply and Aramco's production flexibility central to the market debate.

The operational cushion matters because the company is balancing supply resilience against changing crude flows. The same Reuters report said an additional 2 million barrels per day of demand over the next 18 months would be needed to refill inventories while consumption continues.

Three dated Aramco developments

On August 4, 2026, Aramco reported adjusted net income of SAR 251.9 billion for the first half of 2026 and a Q2 base dividend of SAR 82.1 billion in its investor update. On October 1, 2026, Reuters reported that Aramco raised October liquefied petroleum gas prices by 9 percent to 11 percent.

The October 5 inventory warning is the latest of these three dated developments. It adds a supply constraint to the first-half earnings picture, where adjusted net income rose to SAR 251.9 billion and free cash flow excluding working capital reached SAR 226.0 billion, both highlighted by Aramco for the first half of 2026.

Next reporting date and stock context

Saudi Aramco's next scheduled reporting date is November 3, 2026, according to the company's investor page. Argaam listed the Tadawul last trade at SAR 25.74 on October 8, 2026, down 0.39 percent from SAR 25.84, while its page showed 18 analyst opinions and a SAR 30.23 average target.