Global Oil Demand to Reach Record High, CEO of Saudi Aramco Concerned About Future Supplies
Global oil demand is expected to reach an all-time high of 101.7 million barrels per day.
CEO of Saudi Aramco, Amin Nasser, is concerned about future oil supplies.China accounts for nearly half of global oil demand.
Economic slowdown and aviation industry's recovery from COVID-19 have suppressed demand.
World may not have sufficient spare capacity to handle the shift in demand.
Aramco produces 10% of global crude oil and has plans to expand production capacity.
CEO Amin Nasser believes investment is insufficient to meet growing demand.
Decreased investment in hydrocarbons due to decarbonization and government regulations.
Need for global investment in the energy sector to meet increasing demand for oil and prepare for future.
Impending supply-demand balance could drive up oil prices.
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