Aramco’s Nasser says oil market tightly balanced – Reuters

Aramco’s Nasser says oil market tightly balanced – Reuters

DUBAI, March 12 (Reuters) - Aramco's chief executive Amin Nasser said on Sunday the market would remain tightly balanced in the short to medium term, adding that he was cautiously optimistic.

Nasser was speaking to the press after the Saudi Arabian oil giant reported its highest ever annual profit since the company was listed.

He said spare capacity remained tight at 2 million barrels per day, while demand for jet fuel was increasing alongside China's re-opening from tight Coronavirus-related restrictions.