Amin H. Nasser, CEO of Saudi Aramco, in his latest remarks on Tuesday, refers to the European energy crisis and the outlook for global oil demand.
Featured Comments
Europe’s problem is gas and LNGgiven the lack of available capacity.
The oil market focuses on the short-term economy and not the long-term.
The oil market is not focused on supply fundamentals.
Oil reserve capacity is extremely lowabout 1.5% of the total supply.
Saudi production of 13 million bpd will arrive in 2027.
It takes 30 days to reach the maximum Saudi capacity of 12 million bpd.
Our expectation is that oil demand picks up.
Having spare oil capacity is not just Saudi Arabia’s responsibility.
Source: Fx Street
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