Iran Press/ Middle East: Speaking to reporters on a media call on Monday, Nasser predicted that Chinese oil demand will continue to grow.
“There is still a lot of mileage for China and the economy (to pick) up,” the executive was quoted as saying by Reuters. Nasser added that the aviation sector was at 85% compared to pre-pandemic levels, indicating room for growth.
The comments come as China, the world’s second-largest economy, missed growth forecasts in the second quarter of the year, growing at an annual pace of 6.3% in April-June versus a projected figure of over 7%. Top investment banks, including Goldman Sachs and JPMorgan, earlier announced cuts to their full-year GDP estimates for China.
Saudi Arabia last week decided to extend a voluntary oil output cut of 1 million barrels per day for another month to include September and said it could be extended beyond that or even deepened.
“We still have adequate supply to satisfy our customers,” Nasser assured the media meeting on Monday.
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