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.
The oil industry must step up exploration and investment in new supply to avoid a supply shortage, according to Amin Nasser, the chief executive of Saudi Aramco.
“We had a decade . . . where people didn’t explore. It’s going to have an impact,”
Nasser told the Financial Times. Author's summary: Aramco warns of oil supply crunch due underinvestment.
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