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
