Saudi Aramco: Underinvestment Could Lead to Oil Supply Crunch ...Middle East

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Saudi Aramco: Underinvestment Could Lead to Oil Supply Crunch
source : OILPRICE ( Middle East ) () 55
The oil industry must step up exploration and investment in new supply; otherwise, the world risks a supply shortage, according to Amin Nasser, the chief executive of the Saudi state oil giant Aramco. “We had a decade . . . where people didn’t explore. It’s going to have an impact,” Nasser told the Financial Times.  “If it doesn’t happen, there will be a supply crunch,” said the top executive of the world’s biggest oil firm by both production and market value.  …

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