Saudi Aramco chief warns of oil supply crunch | Financial Times

Saudi Aramco chief warns of oil supply crunch | Financial Times:

The oil industry risks a supply crunch as big energy companies focus on US shale and other short-term efforts over the long-term mega-projects seen in years past, the head of Saudi Arabia’s state energy giant said. Amin Nasser, chief executive of Saudi Aramco, said rising investment into short-cycle output, which ebbs and flows faster than conventional projects, would not be enough to meet rising crude demand. “Something like shale oil …it is not going to really create a major dent in total global supply requirements up until 2040,” said Mr Nasser in an interview with the Financial Times.