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Friday, Feb 03, 2023

‘The world should be worried’: Saudi Aramco — the world’s largest oil producer — has issued a dire warning over 'extremely low' capacity

‘The world should be worried’: Saudi Aramco — the world’s largest oil producer — has issued a dire warning over 'extremely low' capacity

The global oil market remains tight according to Saudi Aramco, the largest oil producer in the world. And that does not bode well for a world that still relies heavily on fossil fuels.
“Today there is spare capacity that is extremely low,” Saudi Aramco CEO Amin Nasser says at a conference in London. “If China opens up, [the] economy starts improving or the aviation industry starts asking for more jet fuel, you will erode this spare capacity.”

Nasser warns that oil prices could quickly spike — again.

“When you erode that spare capacity the world should be worried. There will be no space for any hiccup — any interruption, any unforeseen events anywhere around the world.”

If you share Nasser’s view, here are three oil stocks to bet on. Wall Street also sees upside in this trio.
Comments

Oh ya 75 days ago
Well lets hope the price of gas doubles in the US so folks remember that slow joe and the ho shut down the pipeline from Canada on day 1. You allowed the election thief now you can pay the price, just think if you had the balls of the people in Brazil, but no watching Dancing with the Stars is more important

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