Aramco CEO sees ‘healthy’ oil market, forecasts demand to rise 1.3M bpd in 2025

21/01/2025 Argaam

Aramco CEO sees ‘healthy’ oil market, forecasts demand to rise 1.3M bpd in 2025

Amin Nasser, Saudi Aramco CEO

Saudi Aramco CEO Amin Nasser said the oil market is healthy, expecting demand to rise by 1.3 million barrels per day (bpd) this year, driving market growth.

 

Nasser added that Saudi production averaged 104.6 million barrels per day last year, Reuters reported.

 

On US sanctions against Russian oil tankers, he noted the situation is still early, with a potential impact of more than 2 million barrels. The market will wait to see how it affects supply shortages.

 

He emphasized that the Kingdom and Ministry of Energy aim for market balance and consider this when setting the target volume for company production.

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