I Told You So: Aramco CEO Slams Unrealistic Energy Policies

Saudi Aramco CEO Amin Nasser says years of underinvestment in oil and gas production is the leading cause of today’s energy crisis. When the global economy rebounds from the current slowdown, spare oil production capacity will be wiped out, Nasser said. Saudi Arabia has plans to boost its production capacity to 13 million barrels per day (bpd) by 2027, from around 12 million bpd now, but not much further above that. The Kingdom is one of just two major oil producers believed to hold some additional spare capacity now.

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