BREAKING: Saudi Aramco's CEO just warned the world's emergency oil reserves are almost gone.

He says nearly 3 billion barrels of supply have been lost since the Strait of Hormuz crisis began, and the roughly 6 billion barrels still in storage are "not practically available," stuck in the wrong location, wrong grade, or tied up by owners.

The world uses over 100 million barrels of oil every single day, meaning what's left in reserve covers less than 2 months of global demand.

Even if the Strait reopens today, Aramco says rebuilding reserves to safe levels could take up to 2 years.

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