Aramco CEO says the worst is over for oil

OILPRICE | The worst in the oil market is over, Amin Nasser, president and CEO of the world’s biggest oil company, Saudi Aramco, says, adding that he is “very optimistic” for the second half of this year.  


Currently, global oil demand is somewhere around 90 million barrels per day (bpd), up from 75-80 million bpd in April, Nasser told IHS Markit Vice Chairman Daniel Yergin in an interview for CERAWeek Conversations.


“We see it in China today – it’s almost at 90%. In gasoline it’s around 95% in China. Gasoline and diesel are picking up to pre-COVID levels,” the top executive at Saudi Arabia’s state-owned oil giant said.


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