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He predicted that demand will reach around 106 million barrels per day this year, in contrast to an average of 104.6 million barrels per day the previous year. That’s how he replied to an inquiry regarding the effects of President Donald Trump's energy choices, which might result in a rise in U.S. hydrocarbon output. "We continue to believe that the oil market is strong," Nasser stated.
Inquired about the effect of US sanctions on Russian oil tankers, Nasser stated that it was premature to provide an opinion on the matter. "We are discussing over 2 million barrels (impacted by the sanctions) (...) We will observe the impact on market tension; it’s still in the early phases," stated the head of Saudi Aramco.
When asked if the sanctions have led to a rise in oil demand from Saudi Arabia by China and India, Nasser stated that Aramco follows the directives of the nation's energy ministry.
source: reuters.com
Inquired about the effect of US sanctions on Russian oil tankers, Nasser stated that it was premature to provide an opinion on the matter. "We are discussing over 2 million barrels (impacted by the sanctions) (...) We will observe the impact on market tension; it’s still in the early phases," stated the head of Saudi Aramco.
When asked if the sanctions have led to a rise in oil demand from Saudi Arabia by China and India, Nasser stated that Aramco follows the directives of the nation's energy ministry.
source: reuters.com
