Saudi Aramco Warns of Potential Oil Supply Crunch
Saudi Aramco and OPEC warn that underinvestment and a lack of exploration in the oil industry could lead to a significant global supply crunch as demand continues to rise through 2050.
“We had a decade . . . where people didn’t explore. It’s going to have an impact,”
said Amin Nasser, the chief executive of the Saudi state oil giant Aramco, in an interview with the Financial Times.
The oil industry must step up exploration and investment in new supply to avoid a supply shortage, according to Nasser.
Author's summary: Saudi Aramco warns of potential oil supply crunch due to underinvestment.
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