Aramco CEO warns of global oil crunch due to lack of investment Posted on May 24, 2022 by cngpump Amin Nasser, head of the world’s largest oil producer, said on Monday he was sticking to the target of expanding capacity to 13 million barrels per day from the current 12 million by 2027, despite calls to do it faster. Related posts: Saudi energy minister blames lack of investment for surge in fuel prices European nations remain biggest importers of Russian energy Energy firms’ climate commitments lack credibility: report OPEC cuts 2022 world oil demand forecast due to Ukraine conflict China crude oil imports rebound in April, but weak fuel demand weighs on refiners Chevron profit nearly quadruples as oil prices surge Saudi Aramco CEO says majority of capex will be upstream Russia warns West of $300 per barrel oil, cuts to EU gas supply IOC, BPCL, HPCL lost $2.25 billion in revenue due to fuel price freeze: Moody’s India’s Reliance buys at least 15 million barrels of Russian oil: traders