| Work Detail |
Oil demand this year will approach 106mln barrels per day after averaging about 104.6mln barrels per day in 2024, he said DAVOS, Switzerland - Saudi oil giant Aramcos Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year. Speaking to Reuters on the sidelines of the World Economic Forum in Davos, Nasser was responding to a question on the impact of U.S. President Donald Trumps energy decisions, which could increase U.S. hydrocarbon output. Oil demand this year will approach 106 million barrels per day after averaging about 104.6 million barrels per day in 2024, he said. We still think the market is healthy ... last year we averaged around 104.6 million barrels (per day), this year, were expecting an additional demand of about 1.3 million barrels ... so there is growth in the market, he said. Asked about U.S. sanctions on Russian crude tankers, he said the situation was still at an early stage. If you look at the impacted barrels, youre talking about more than 2 million barrels, he said. We will wait and see how would that translate into tightness in the market, it is still in the early stage. Asked if China and India have sought additional oil volumes from Saudi Arabia on the back of the sanctions, Nasser said Aramco is bound by the levels the kingdoms energy ministry allows it to pump. Saudi Arabia has been pumping at about three quarters of its output capacity, as part of agreements with OPEC+ to support the market. The kingdom and the Ministry of Energy is always looking at balancing the market. They take that into account when they give us the target of how much we should put in the market, he said. Aramco is working with MidOcean, an LNG firm in which it took a 51% stake, and looking at expanding our position globally in LNG, without giving details, Nasser said. |
