Saudi Aramco chief warns of vulnerable global oil markets

Saudi Aramco chief warns of vulnerable global oil markets The head of Saudi Aramco has warned that global energy markets remain vulnerable as most of the world’s spare oil production capacity sits in the Middle East. Speaking amid growing turmoil in the region, Aramco’s chief executive said: “Unfortunately for global markets all spare capacity is in this region. ” He added that the company is currently relying in part on existing global stockpiles to continue supplying customers, warning that it "cannot be used for an extended period of time".