‎Saudi Aramco to show positive performance through market cycles: Nasser

‎Saudi Aramco to show positive performance through market cycles: Nasser

Amin Nasser, President & CEO of Saudi Aramco, expected demand for crude to continue growing in the medium to long term despite market fluctuations.

Markets are positive on the level of oil demand in the medium term. Demand for oil is expected to reach a record of over 103 million barrels per day by the end of 2023, exceeding its high pre-COVID levels, he added in an earnings call.

Aramco’s resilience and high reliability in addition to low production costs enhance its ability to report profit and strong free cash flows. This in turn strengthens its solid financial position and affirms its ability to demonstrate positive performance through all oil market cycles.