COLUMN-Saudi Aramco sees Asian crude oil demand recovering. But is it?: Russell - Reuters:
Saudi Aramco sees a recovery in global oil demand, a view that would justify the paltry reduction in the price the world’s biggest crude exporter will charge refiners in Asia for cargoes loading in September.
Customers probably have a different view.
Aramco Chief Executive Amin Nasser told reporters on Aug. 9 that demand was recovering as countries try to restart economies after lockdowns aimed at curbing the spread of the novel coronavirus pandemic.
“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),” he said, after announcing the state-controlled oil giant’s quarterly results.
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