Saudi Aramco sees oil market as balanced and ‘reasonable’

Saudi Aramco has spare crude production capacity of 3 million b/d to meet any increase in oil demand, although the market is currently seen as being balanced and “reasonable,” CEO Amin Nasser told an Energy Intelligence Forum in London on Oct. 17. The company can ramp up oil production if needed “in a couple of weeks,” Nasser said, adding the… Saudi Aramco has spare crude production capacity of 3 million b/d to meet any increase in oil demand, although the market is currently seen as being balanced and “reasonable,” CEO Amin Nasser told an Energy Intelligence Forum in London on Oct. 17. The company can ramp up oil production if needed “in a couple of weeks,” Nasser said, adding the… Read More