Saudi Aramco is the world's largest oil exporter, its head spoke in a Bloomberg interview.
- said that "spare capacity is shrinking", adding that it was a "huge concern".
- forecast that a pick up in the aviation sector in 2022 could deplete spare capacity
- "It's now getting to a situation where there's limited supply -- whatever is left that's spare is declining rapidly."
OPEC+ next meet on November 4 and so far there is no indication of an increase in supply beyond what is already planned. A tight market is contributing to high prices, these comments from Saudi Aramco indicate that won't be changing much soon.