Saudi Aramco’s CEO Nasser: Oil demand recovery picking up as lockdowns ease
|State oil giant Saudi Aramco’s Chief Executive Officer (CEO) Amin Nasser said on Sunday, oil demand recovery is picking up pace in Asia as economies gradually open up after the easing of coronavirus lockdowns.
Key quotes
“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).”
“As countries ease the lockdown, we expect the demand to increase.”
His comments come after the company reported a 73.4% fall in second-quarter net profit.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.