Amin Nasser, President and CEO of Saudi Aramco
Brent crude prices could have reached $200 per barrel without Saudi Aramco’s East-West Pipeline, CEO Amin Nasser stated.
Speaking at the Energy Intelligence Forum in London, Nasser said physical crude prices sometimes trade $20-$50 per barrel above the Brent benchmark.
He said Chinese demand for liquids used in the chemicals industry will support oil demand growth and offset any decline caused by the shift toward electrification.
“We are seeing huge demand to build additional inventories around the world,” he added.
Nasser said oil demand would remain stable over the next two years if conditions return to normal now.
Maritime shipping has been severely disrupted by the Strait of Hormuz crisis, putting significant pressure on supply chains.
Aramco is exploring additional routes for crude exports, along with increasing overseas storage capacity, to help manage short-term disruptions.
Amin Nasser, President and CEO of Saudi Aramco
Brent crude prices could have reached $200 per barrel without Saudi Aramco’s East-West Pipeline, CEO Amin Nasser stated.
Speaking at the Energy Intelligence Forum in London, Nasser said physical crude prices sometimes trade $20-$50 per barrel above the Brent benchmark.
He said Chinese demand for liquids used in the chemicals industry will support oil demand growth and offset any decline caused by the shift toward electrification.
“We are seeing huge demand to build additional inventories around the world,” he added.
Nasser said oil demand would remain stable over the next two years if conditions return to normal now.
Maritime shipping has been severely disrupted by the Strait of Hormuz crisis, putting significant pressure on supply chains.
Aramco is exploring additional routes for crude exports, along with increasing overseas storage capacity, to help manage short-term disruptions.
