ICYMI – Saudi Aramco CEO is bullish on China’s oil consumption

Saudi Aramco Chief Executive Officer Amin H. Nasser says the firm is bullish on China’s oil consumption

Citing

• government stimulus measures
• jet fuel demand is a bright spot
• sees global oil demand at more than 100 million barrels per day through 2050

Bloomberg carried his comments, but also poured some cold water on them:

• other market commentators forecast that China’s demand for fuels like gasoline & diesel has already peaked or will be peaking soon, backed by the nation’s rapid electrification of its passenger vehicle fleet
• In recent months, parts of the country’s trucking sector have also seen a jump in orders for commercial vehicles that run on liquefied natural gas

This article was written by Eamonn Sheridan at www.forexlive.com.