SAUDI ARAMCO'S OPTIMISM
MEOG - Jul 01, 2020 - Saudi Aramco CEO Amin Nasser said that "the worst is behind us" for oil markets, in a recorded interview at CERAWeek.
"We went from -$40 to +$40 with WTI," he continued. "In April we were looking at demand of about 75-80 MMbd with significant supply at that time. Currently you are looking at almost close to 90 MMbd. I'm very optimistic about the second half of this year. We see it in China today – it's almost at 90%. In gasoline it's around 95% in China. Gasoline and diesel are picking up to pre-COVID levels. Jet fuel is still lagging in terms of less air travel. More countries will start…
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