‘Oil demand picking up as countries ease lockdown’

SourceGulf Today
SectorFinancial Markets
CountrySaudi Arabia

‘Oil demand picking up as countries ease lockdown’ an hour ago The photo has been used for illustrative purposes. Saudi Aramco’s Chief Executive Amin Nasser said on Sunday that he sees oil demand recovering in Asia as economies gradually open up after the easing of coronavirus lockdowns. “Look at China, their gasoline and diesel demand is almost at pre-COVID 19 levels. We are seeing that Asia is picking up and other markets too,” he told reporters on a conference call after Aramco reported results. “As countries ease the lockdown, we expect the demand to increase.” The state oil giant has plans to pay $75 billion in dividends this year. All major oil companies have taken a hit in the second quarter as lockdowns to contain the coronavirus limited travel, which reduced oil consumption and sent ...read more...