Aramco Sees 2025 Oil Demand Hitting 105.8 Million Barrels a Day

Saudi Aramco Chief Executive Officer Amin Nasser said global oil demand is on track to rise by 1.1 million to 1.3 million barrels a day this year, reaching about 105.8 million barrels a day. He expects consumption in the second half to exceed the first half by more than 2 million barrels a day, citing strong gasoline and jet-fuel use in the United States and China. Nasser characterised market fundamentals as “very healthy,” noting that commercial inventories remain below the five-year average even as geopolitical headwinds persist. He said Aramco continued to deliver supplies with “exceptional reliability” and that the company’s investment priorities remain concentrated in Asia. Chief Financial Officer Ziad Al-Murshed added that Aramco will stay active in the debt markets and reiterated the company’s capital-expenditure guidance of $52 billion to $58 billion for 2025. Separately, BP Chief Executive Officer Bernard Looney echoed the upbeat outlook, saying global oil demand remains robust.