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Oil & Gas Technical Compendium

Saudi Aramco sees oil demand near pre-pandemic levels

Saudi Aramco said demand for oil is nearing pre-Covid levels and reiterated that producers globally are investing too little in supply.“We are getting very close to pre-pandemic levels,” Chief Executive Officer Amin Nasser told reporters on Monday in Dhahran, where the world’s biggest oil company is based. “We continue to see healthy demand in the future.”Consumption of crude crashed from around 100 million barrels a day in early 2020 as the coronavirus pandemic spread, shutting down factories and triggering mass lockdowns. The International Energy Agency, which advises rich countries, said it was back to almost 98 million barrels daily as of September.Oil prices have surged 13% this year to more than $85 a barrel as demand continues to rec.....

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