Saudi Aramco’s CEO says oil market balanced in medium term, spare capacity to stay tight

12/03/2023 Argaam

Saudi Aramco’s CEO says oil market balanced in medium term, spare capacity to stay tight

Amin Nasser, President and CEO of Saudi Aramco

Amin Nasser, President and CEO of Saudi Aramco, said the oil market will remain tightly balanced in the medium term, adding that he is cautiously optimistic, Reuters reported.

 

Spare capacity will stay tight at two million barrels per day. This is amid increased demand for jet fuel and the reopening of China's economy after the lifting of Coronavirus-related restrictions.

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