Saudi Aramco CEO predicts 1.6-2M bpd oil demand rise after sharp price fall - Al-Monitor: The Middle Eastʼs leading independent news source since 2012

Adam Lucente

Adam Lucente

Aug 7, 2024

PEDRO PARDO/AFP via Getty Images — Amin H. Nasser, president and CEO of Saudi Aramco, attends the China Development Forum in Beijing on March 25, 2024. — PEDRO PARDO/AFP via Getty Images

Aramco is the jewel of the Saudi economy and the main source of revenue for Crown Prince Mohammed bin Salman's ambitious economic and social reforms.

Saudi Aramco quarterly profit dips as output stays low

Agence France-Presse

A general view shows 09 March 2004 the Shaybah mega-project, the first, and so far sole, oilfield development in Saudi Arabia's vast Al-Rub al-Khali desert, some 800 kilometers (500 miles) southeast of the eastern oil center of Dhahran. The Shaybah mega-project, which sits on top of some 15 billion barrels of proven oil reserves, more than a drop in the ocean of Saudi Arabia's estimated total reserves of about 260 billion barrels, has been producing oil to the tune of 600,000 barrels per day (bpd) for less

Saudi Aramco profit drops 19% on lower oil prices

Al-Monitor Staff

Al-Monitor Staff

Saudi Aramco President & CEO Amin Nasser speaks during the CERAWeek oil summit in Houston, Texas, on March 18, 2024.

Will Saudi Aramco's massive share sale to raise $12B pay off?

Sebastian Castelier

Sebastian Castelier

In Dubai, reporting on regional business

NEOM, SAUDI ARABIA - NOVEMBER 17: Athletes compete during stage 4 of NEOM Titan Desert Saudi Arabia during the NEOM Beach Games 2023 on November 17, 2023 in Neom, Saudi Arabia. (Photo by Francois Nel/Getty Images for NEOM Beach Games 2023)

Why is Saudi Arabia cutting funding, reducing costs on ambitious projects?

Rebecca Anne Proctor

Rebecca Anne Proctor

In Dubai, reporting on culture