Oil prices will increase by the end of this year but won’t rebound to levels reached in 2013 and 2014, according to Amin H. Nasser, president and chief executive officer of Saudi Arabian Oil Co. Prices will gain as “the gap between supply and demand in the oil market is shrinking,” Nasser said at an event in Beijing on Monday. Oil exceeded $100 a barrel in 2013 and 2014 before dropping amid a global glut. Benchmark Brent crude was trading on Monday at $40.21 a barrel in London. The world’s largest crude oil-producing company, known as Saudi Aramco, is looking to boost investments in the Chinese energy industry, he said. “We furnish 20 percent of China’s crude oil imports – about one million barrels a day. But there’s a significant gap in what we are doing now, and what we can offer,” Nasser said. “Our investments in China’s entire […]