Oil Demand to Hit Pre-Pandemic Levels despite Omicron Fears: Saudi Nasser

Aramco’s CEO is optimistic about oil demand growth next year despite fears over the new COVID-19 variant omicron. Oil demand will be over 100 million barrels per day in 2022, reaching pre-COVID19 levels, Amin Nasser told Arab News during a media briefing at the company's headquarter today.

On COVID-19’s new strain, he said that “the markets overreacted,” adding that the impact of omicron on demand cannot be measured without a full medical assessment. Nasser’s remarks came during a ceremony in Dhahran to kickoff development of the unconventional gas field Jafurah.