"Occidental CEO Predicts Oil Supply Crunch by 2025"

Occidental Petroleum's CEO Vicki Hollub predicts a global oil supply shortage from 2025 onwards due to lagging exploration for longer-producing crude reserves compared to demand growth. The ratio of discovered resources versus demand has dropped to around 25%, and industry executives warn that new investments and supply are needed to maintain current levels as older fields mature. Saudi Arabia's Aramco also emphasizes the need for continued oil and gas production alongside renewable energy efforts to meet future demand.