Saudi Aramco: Underinvestment Could Lead to Oil Supply Crunch

Saudi Aramco: Underinvestment Could Lead to Oil Supply Crunch

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 an…

Aramco CEO Warns of Impending Oil Supply Crisis

Saudi Aramco's chief highlights risks from years of underinvestment, signaling a potential global oil shortage ahead.