Saudi Aramco Dismisses Oil Glut Narrative as ‘Seriously Exaggerated’

Saudi Aramco Dismisses Oil Glut Narrative as ‘Seriously Exaggerated’

Forecasts of a massive oil glut are seriously exaggerated as demand keeps rising and global stocks are below the five-year average, according to Saudi Aramco’s chief executive officer, Amin ?Nasser.  “Oil glut predictions are seriously exaggerated,” Nasser said on the sidelines of the World Economic Forum in Davos, Switzerland, as carried by Reuters. Global oil stocks are low, while the amassed barrels in floating storage on tankers are mostly s…

Aramco CEO says oil glut predictions are exaggerated

Global oil glut predictions are seriously exaggerated as demand growth remains strong and global oil stocks are depleted, Amin Nasser, chief executive of Aramco, the world's biggest oil producer, said today.

DAVOS: Aramco CEO Says Oil Glut Predictions are Exaggerated - Energy News, Top Headlines, Commentaries, Features & Events

DAVOS, Switzerland, Jan 22 (Reuters) – Global oil glut predictions are seriously exaggerated as demand growth remains strong and global oil stocks are depleted, Amin Nasser, chief executive of Aramco , the world’s biggest oil producer, said on Thursday. Oil prices have traded above $60 per barrel for most of 2025 with analysts predicting a decline ...

Davos: Aramco CEO says oil glut predictions are exaggerated

Oil prices ‌have traded above $60 per barrel for most of 2025 with analysts predicting a decline in ⁠2026