Saudi Aramco’s Chairman Yasir Al‑Rumayyan told investors at the Future Investment Initiative in Rome that the Iran conflict underscored the value of strategic reserves. The company already owns storage sites worldwide, especially in Asia, and is now weighing a global expansion of that network to shield customers from future disruptions.

Aramco’s pipeline system carries crude from the Gulf to the Red Sea port of Yanbu, while the company’s spare capacity exceeds 2 million barrels a day. These assets have kept supply steady when the Strait of Hormuz faced near‑closure, demonstrating how storage buffers can mitigate geopolitical shocks.

Expanding storage would give Saudi Arabia a buffer against future chokepoints and strengthen its role in global oil markets. The additional capacity would allow the kingdom to respond faster to sudden supply shocks and could shift bargaining power in favor of the kingdom, a move that will be closely observed by rivals.

Investors will watch how much capital Aramco allocates to new storage, as the cost of building large tanks and maintaining overseas sites can run into billions. The company’s decision will also affect regional partners, who rely on Saudi crude deliveries during geopolitical flashpoints.