Saudi Aramco CEO: Global oil supply is severely constrained

Recently, Amin Nasser, CEO of Saudi Aramco, said during the Davos Forum in Switzerland that with the wave of green energy sweeping the world, traditional fossil energy has been under pressure for a long time
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In the face of potential investment risks, many companies have dared not go deeper into it, which has led to an expanding global oil supply gap
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The International Energy Agency said last year that world oil demand would fall and called on countries to not need to make new investments in fossil fuels
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In this regard, Amin Nasser said that the Russian-Ukrainian conflict masks a big problem that the oil industry is already facing: the world is experiencing an oil production capacity crisis due to lack of investment
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Especially after the easing of the new crown pneumonia epidemic, global demand has resumed growth, and the oil production capacity crisis has become more serious
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Currently, the world's spare capacity for oil is less than 2%
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He also said that after the outbreak, the aviation industry's oil consumption fell by 2.
5 million barrels per day compared to before the outbreak
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If the aviation industry starts to recover, the oil industry will face major problems
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Amin Nasser also said that Saudi Aramco's production increase plan will increase from the current 12 million barrels per day to 13 million barrels per day in 2027, although Western countries have always hoped that Saudi Arabia will speed up production and expand production capacity to help deal with the energy crisis, but It takes time
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