Aramco Warns Full Jet Recovery Would Trigger Oil Crisis

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Saudi Aramco CEO Amin Nasser has sent a stark warning about the lack of spare oil production capacity in the world, telling the Energy Intelligence Forum Oct. 4 that a full recovery in aviation jet fuel demand would more than wipe out current global spare capacity. Aramco’s Nasser said global demand for jet fuel was still 1.7 million b/d below pre-Covid-19 levels compared to current spare capacity of just 1.5 million b/d.

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