Energy crisis coming as global oil production set to plunge by a third

Global crude

Global crude production is expected to drop 30% by the end of the current decade due to underinvestment in oil and gas, according to Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman.

“We’re heading toward a phase that could be dangerous if there’s not enough spending on energy,” Abdulaziz bin Salman said, as quoted by Bloomberg.

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