20.10.2016 - Saudi Arabia’s Energy Minister Warns of Oil Shortage
Khalid al-Falih lends his voice to theory low oil prices caused energy companies and countries to pull back so sharply from spending that their output will soon fall. Saudi Arabia’s energy minister said Wednesday that the world’s oil industry would soon emerge from a crippling two-year slump but warned of an impending shortage of petroleum that could send crude prices up sharply. In his speech here at the Oil and Money conference, Khalid al-Falih, the top oil official in the country that exports more crude than any other, outlined the rapidly changing landscape in the energy industry since the Organization of the Petroleum Exporting Countries agreed last month to modestly cut its output..........................................Full Article: Source
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