Saudi Aramco Chief Foresees Additional Oil Demand in 2025

SEATTLE (Oil Monster): Amin Nasser, the CEO of Saudi oil giant Aramco, predicted a robust oil market in 2025. According to him, the market is probably going to see an extra 1.3 million barrels per day this year. Speaking on the fringes of the World Economic Forum 2025 in Davos, Nasser disclosed these details.

In contrast to the average of 104.6 million barrels per day in the previous year, he predicts that the global oil demand would reach 106 million barrels per day in 2025. According to Nasser, the increased demand suggests that the oil market is expanding healthily.

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Nasser stated that the problem is still in its early stages when discussing the effects of U.S. sanctions on Russian vessels. It remains to be seen if the penalties will result in tighter oil market conditions. Meanwhile, he said he was confident about the state of the world oil market. Despite expected market swings brought on by the new U.S. administration's policy changes, he remained upbeat.

Saudi Arabia will adhere to the OPEC agreement to restrict pumping in order to maintain market equilibrium. The country has been pumping at about three quarters of its output capacity.

Nasser stated that Aramco hopes to strengthen its position in the global LNG market by collaborating with MidOcean.