‎Saudi Arabia should monitor oil market trends in long term, says Aramco CEO

‎Saudi Arabia should monitor oil market trends in long term, says Aramco CEO

Saudi Arabia should monitor the oil market trends in the long term, as oil demand may increase through the current decade, said Saudi Aramco President and CEO Amin Nasser.

Oil demand was supposed to return to the pre-pandemic levels by the end of 2022, but most estimates indicate that this may be carried over to 2023, Nasser told analysts on the sidelines of the results' investor presentation.

Nasser further expected more declines, if market forecasts maintained a downtrend.

Saudi Aramco, together with the global energy firms, can overcome challenges related to the increasing oil demand, while maintaining low levels of carbon emissions, Nasser indicated, adding that the oil giant has a resilient strategy to combat market volatility.

He also reiterated Aramco’s concerns about lack of investments to fulfill future demand, stressing that all concerned parties should realize such problem and pump more investments to ensure an abundant supply in the energy markets.