Market reacts to demand developments - Aramco CEO

Tuesday, 04. October 2022 11:28

Saudi Arabian Oil Company (Saudi Aramco) President and CEO Amin Nasser (pictured) stated on Tuesday that the global oil market is seemingly looking only at demand-related developments, namely a possible recession, and implied that the market should put more emphasis on a very low spare capacity to increase output and supply.

Delivering remarks at the Energy Intelligence Forum in London, the oil executive noted that issues with spare capacity are leading to Europe's troubles with natural gas and liquefied natural gas (LNG).

Despite a rise in demand from Europe, Aramco will keep its market in Asia, Nasser underlined.

Related Links: Saudi Aramco
Author:
Baha Breaking News (BBN) / MS