Davos: Aramco CEO says oil glut predictions are seriously exaggerated
ReutersJan 22, 2026 8:58 AM
By Dmitry Zhdannikov
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 2223.SE, 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 in 2026 as they expect global supply to exceed demand by a big margin due to production growth from the United States, OPEC+ and other producers.
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