Saudi Aramco Warns of Potential Oil Supply Crunch
Saudi Aramco and OPEC have warned that underinvestment and 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, emphasized the need for increased exploration and investment in new supply to avoid a potential shortage.
- The oil industry must step up investment to meet rising demand.
- Underinvestment and lack of exploration could lead to a supply crunch.
Author's summary: Aramco warns of oil supply crunch due to underinvestment.
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