Aramco CEO: Underinvestment In Oil Is A ‘’Huge Concern’’

Crude oil production capacity is dwindling globally, and more investments in new production are needed urgently, Aramco's chief executive told Bloomberg. "It's a huge concern," Amin Nasser said, adding that "If there's aviation pick up next year, that spare capacity will be depleted. It's now getting to a situation where there's limited supply -- whatever is left that's spare is declining rapidly.

" The International Energy Agency defines spare oil production capacity as production that can be started within 30 days and sustained for at least 90…