Aramco sees oil demand picking up

Many Wall Street banks, including Goldman Sachs Group Inc, expect it to climb above US$100 (RM432) a barrel in the second half of the year. They cite a global economic rebound by that time, low fuel stockpiles in nations such as the United States and the potential for Russian exports to drop as the west tightens sanctions. — AP

DAVOS: The world’s biggest oil company is confident demand will grow strongly this year, as China reopens its economy and the aviation market recovers.

“We are very optimistic in terms of demand coming back to the market,” Saudi Aramco’s chief executive officer (CEO), Amin Nasser, said in an interview.