Aramco's Nasser says oil market tightly balanced

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Aramco's chief executive Amin Nasser said on Sunday the market would remain tightly balanced in the short to medium term, adding that he was cautiously optimistic.

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Aramco's crude supplies to its main Asian customers, including China and India, were not impacted by the uptick of Russian sales into Asia on the back of Western sanctions. On recent imports of Russian diesel into Saudi Arabia, Nasser said the kingdom had always been importing products for its domestic market since before the Russian invasion of Ukraine.

The company is in "active talks and discussions" in terms of LNG investments, he said without elaborating.

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The profits don’t reflect this

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