Aramco expects a rapid rebound in demand

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Amir Nasser, CEO of Saudi Aramco, officially known as Saudi Arabian Oil Company, said this week that crude demand is expected to improve in a few months.

“The current demand in the market is about 94 million barrels / day, our expectation for next year will be around 99 million barrels / day,” said Nasser, adding that there was a good case for optimism. of oil demand in the future, according to oillahoma.

Nasser has said that China, East Asia and India are likely to contribute more to the pickup in demand.

Thursday, OPEC +, a group of major producers led by Saudi Arabia and Russia, agreed to keep crude oil production stable in April, frustrating hopes of halting a production cut after signs of a global economic recovery and oil rebound.

Brent oil hit a 14-month high at $ 67.74 per barrel early Friday morning, bringing annual gains to 30%.

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