Aramco CEO Nasser Stays Bullish on Oil Demand After Friday’s Price Rout - Bloomberg
Oil demand will bounce back to what it was before the coronavirus pandemic crushed energy use last year, and a rout in prices last week was based on unfounded fears of new variants of the disease, the head of Saudi Aramco said.
The market “over-reacted” to news of the new omicron coronavirus variant when prices plunged Friday, Chief Executive Officer Amin Nasser said Monday.
“We’re very optimistic about demand,” he told reporters in Dhahran, the center of Saudi Arabia’s oil business along the country’s Persian Gulf coast. “We’re seeing a good response from the markets, especially in Asia.”
Crude recouped some its losses on Monday after the end-of-week rout that saw U.S. oil plunge more than 10%, slumping below $70 for the first time since September.
No comments:
Post a Comment