Spare oil capacity throughout the world is very low, and significant investments in the oil industry are not on the immediate horizon—not even with higher prices—Shell’s and Aramco’s heads said on Tuesday, according to Reuters. According to Aramco’s Chief Executive Amin Nasser, who spoke at the Energy Intelligence Forum on Tuesday, the oil markets are “focusing on what will happen to demand if recession happens in different parts of the world.
They are not focusing on supply fundamentals.” While the market…Iranian Rial Plunges To Record Low
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