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,"
according to Amin Nasser, the chief executive of the Saudi state oil giant Aramco. The oil industry must step up exploration and investment in new supply to avoid a supply shortage.
Tsvetana, a writer for Oilprice.com, reports on the oil industry with over a decade of experience.
Author's summary: Saudi Aramco warns of oil supply crunch due to underinvestment.
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