Saudi Aramco CEO says demand is increasing

Saudi Aramco sees increases in India, US

Saudi Aramco

Saudi Aramco is estimating total oil demand to climb by 1.2 million barrels per day in 2016. REUTERS/ Ali Jarekji/File Photo

DHAHRAN, Saudi Arabia, May 10 (Reuters) РDemand for Saudi Aramco oil is increasing and the company is meeting that demand, chief executive Amin Nasser said on Tuesday.

“We will meet the call on Saudi Aramco…The trend is increasing,” he told reporters.

“We are seeing demand growth in different places. We are seeing increases in India, in the U.S., and we are meeting that call on us,” he said, adding that he expected total oil demand to climb by 1.2 million barrels per day this year.

Domestic demand during the Saudi Arabian summer will cause a slight increase in burning of liquids for power generation, he said, adding that Aramco’s average crude output in 2015 was 10.2 million barrels per day.

(Reporting by Rania El Gamal; Writing by Andrew Torchia)

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