Saudi Aramco CEO: Global crude oil demand is strong, emerging economies are the main driving force

Zhitong
2025.10.13 09:36

Saudi Aramco CEO Amin Nasser stated that global oil demand is expected to remain strong this year and next, driven by growth in developing countries. Nasser said at the Energy Intelligence Forum held in London on Monday that global oil consumption is expected to increase by about 1.2 to 1.4 million barrels per day in 2025 and 2026, with the current market fundamentals remaining robust. He pointed out that considering the continuous improvement in population and living standards in developing economies in the Global South, "we are confident that demand will continue to grow." Nasser mentioned that Saudi Aramco's current maximum production capacity is 12 million barrels per day, with oil extraction costs at only $2 per barrel. The company expects to achieve "significant" growth in the natural gas sector

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