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Aramco Chief's Oil Market Warning: Catastrophic Consequences Loom

Financial Times Companies •
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Saudi Aramco chief Amin Nasser warns of 'catastrophic consequences' for the oil market, signaling potential instability despite the company's imminent ability to export 5 million barrels a day of crude. Nasser's stark warning underscores the precarious balance between supply and demand, as the world's largest oil producer prepares to significantly increase its output capacity. The timing is critical, coming as global markets grapple with persistent uncertainty over future demand and the long-term impact of the pandemic on energy consumption patterns.