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.
OPEC Secretary General Haitham Al also shares concerns about the industry's future.
- Underinvestment in the oil industry may lead to a supply shortage.
- Demand for oil is expected to continue rising through 2050.
Autor's summary: Oil supply crunch is possible due underinvestment.