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  • 03-03-21

    Aramco CEO: Demand for oil to increase this year

    (MENAFN)President and CEO of Saudi Aramco, Amin Nasser is witnessing an increased demand for oil in 2021, especially in the second half, however; he is not feeling comfortable concerning the risk of a “jobless recovery” for the global economy.

    There has been “quite an improvement” in oil demand in comparison to the extreme decrease in the pandemic lockdowns previous year, especially in China and East Asia, he further stated during a yearly energy conference led by the information and insights company IHS Markit in Houston, Texas.

    Oil market expert Daniel Yergin quoted him as saying that “Indian demand is almost the same as pre-COVID.”

    “There has been an impact that we see in the West and the US. But with the rapid deployment of vaccines, we are seeing good cause for optimism and recovery in demand.”

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