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,”
Amin Nasser, the chief executive of Saudi Aramco, stated that the oil industry must increase exploration and investment in new supply to avoid a supply shortage.
Author's summary: Saudi Aramco warns of potential oil supply crunch due to underinvestment.
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