Last week, an unexpected warning came out of Saudi Arabia.
It was delivered by Khaled al-Falih, head of Saudi Aramco, the kingdom’s state-owned oil company, and his message was blunt.
Unless the world’s top oil producer tackles inefficiencies in its energy system, the kingdom’s stockpile of crude for export is in danger of falling by as much as 3m barrels per day by 2028, he said.
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