The CEO of Saudi Aramco talks about Chinese demand for oil.

The CEO of the Saudi Arabian Oil Group (Aramco), Amin Nasser, expressed some optimism regarding Chinese demand for crude oil following the recent economic stimulus measures announced by China in statements made on Monday. Speaking at the International Energy Week conference in Singapore, Nasser mentioned that the demand for jet fuel is a bright spot in the Chinese market, noting that Aramco aims to increase daily production to 4 million barrels as the company focuses on China. Furthermore, Nasser clarified that China is a huge market, with Aramco investing in it in collaboration with its partners. During his remarks on energy transition plans, Nasser stated that things need to be recalibrated when it comes to the southern hemisphere. In this regard, Nasser predicted that demand for crude oil is likely to witness growth in developing countries over the coming years as these economies expand.