Saudi Aramco CEO Amin Nasser says global demand for crude oil currently stands at around 90 million barrels per day, just 10 million barrels short of the pre-pandemic level.
The head of Saudi Aramco said on Monday, August 10, he was optimistic that the global demand for oil was growing as the worst of the coronavirus pandemic"might be behind us."
"While it remains unclear how long the current wave of uncertainty will continue, we see growing evidence that the worst of the crisis might be behind us," Nasser said. Aramco's net profit in the first 6 months of the year also plunged 50% to $23.2 billion compared to $46.9 billion in the corresponding period of last year.
But he insisted that the company will go ahead with plans to raise its maximum sustained capacity to 13 million bpd from 12 million bpd currently.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Saudi Aramco profits dive 73 percent as virus batters oil demand
Read more »
Saudi Aramco profits dive 73% as virus batters oil demandSaudi Aramco, recently dethroned by Apple as the world's most valuable listed company, posts a net profit of $6.6 billion in the 2nd quarter of 2020.
Read more »
Saudi Aramco profits dive 73 percent as virus batters oil demand
Read more »
Saudi Aramco profits dive 73% as virus batters oil demandSaudi Aramco, recently dethroned by Apple as the world's most valuable listed company, posts a net profit of $6.6 billion in the 2nd quarter of 2020.
Read more »
Mommy bloggers sound alarm over China-made ‘fake’ med suppliesMANILA, Philippines — Mommy bloggers have sounded the alarm over the proliferation of “fake” medical supplies from China at the height of the coronavirus disease (COVID-19) pandemic and called
Read more »
Jollibee opens first cloud kitchen in Singapore on delivery demand boom
Read more »