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Saudi Aramco Says Global Oil Buffers May Vanish When Demand Recovers

  • Energy crisis will be ‘severe and prolonged,’ says CEO Nasser
  • Saudis say world must recognize need for more oil investments
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Oil Steadies Ahead of Fed Rate Decision

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Saudi Aramco said a lack of investment in fossil fuels was to blame for the global energy crisis and warned that spare production capacity in the oil market might be wiped out once economies rebound.