عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Delegation to WEF Meets with Forum Founder and President

The Saudi delegation to the World Economic Forum (WEF) meets with the Forum's Founder and Executive Chairman, Professor Klaus Schwab, and President Borge Brende on Monday. (SPA)
The Saudi delegation to the World Economic Forum (WEF) meets with the Forum's Founder and Executive Chairman, Professor Klaus Schwab, and President Borge Brende on Monday. (SPA)
TT
TT

Saudi Delegation to WEF Meets with Forum Founder and President

The Saudi delegation to the World Economic Forum (WEF) meets with the Forum's Founder and Executive Chairman, Professor Klaus Schwab, and President Borge Brende on Monday. (SPA)
The Saudi delegation to the World Economic Forum (WEF) meets with the Forum's Founder and Executive Chairman, Professor Klaus Schwab, and President Borge Brende on Monday. (SPA)

Saudi Arabia's delegation to the World Economic Forum (WEF) Annual Meeting 2025 held talks on Monday with the Forum's Founder and Executive Chairman, Professor Klaus Schwab, and President Borge Brende, on the first day of the global event in Davos.

Discussions focused on bolstering the existing cooperation between Saudi Arabia and the Forum while exploring key global economic developments of common interest.

Saudi Minister of Economy and Planning Faisal Alibrahim met on Monday with Chairman of HSBC Holdings, Mark Tucker, on the sidelines of the WEF.

The meeting focused on global financial developments and investment opportunities in Saudi Arabia.

He also me wet with Romania's Minister of Economy, Digitalization, Entrepreneurship, and Tourism, Bogdan Ivan to discuss means to boost Saudi-Romanian economic collaboration.

They exchanged views on global economic developments of mutual concern.

Alibrahim also held talks with Chair of the Berlin Global Dialogue Professor Lars-Hendrik Röller on multilateral international cooperation and global economic development.

Most Viewed

 
 
Business

Aramco Chief Expects Additional Oil Demand of 1.3 Million bpd this Year

Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
TT
TT

Aramco Chief Expects Additional Oil Demand of 1.3 Million bpd this Year

Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025
Saudi Aramco's Chief Executive Amin Nasser speaking in Davos 2025

Saudi oil giant Aramco's Chief Executive Amin Nasser said on Tuesday he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year.
Speaking to Reuters on the sidelines of the World Economic Forum in Davos, Nasser was responding to a question on the impact of US President Donald Trump's energy decisions, which could increase US hydrocarbon output.
Oil demand this year will approach 106 million barrels per day after averaging about 104.6 million barrels per day in 2024, he said.
“We still think the market is healthy ... last year we averaged around 104.6 million barrels (per day), this year, we're expecting an additional demand of about 1.3 million barrels ... so there is growth in the market,” he said.
Asked about US sanctions on Russian crude tankers, he said the situation was still at an early stage.
“If you look at the impacted barrels, you're talking about more than 2 million barrels,” he said. “We will wait and see how would that translate into tightness in the market, it is still in the early stage.”
Asked if China and India have sought additional oil volumes from Saudi Arabia on the back of the sanctions, Nasser said Aramco is bound by the levels the Kingdom's energy ministry allows it to pump.
“The Kingdom and the Ministry of Energy is always looking at balancing the market. They take that into account when they give us the target of how much we should put in the market,” he said.
In a Bloomberg television interview in Davos, Nasser said: “We still see good demand coming out of China.” The country, along with India, make up about 40% of the rise in global consumption and, “demand is increasing year on year.”
Nasser’s comments echo those he made back in October, saying he was bullish on China after a series of government stimulus measures aimed at reviving the economy.
Nasser also said that Aramco is working with MidOcean, an LNG firm in which it took a 51% stake, and “looking at expanding our position globally in LNG,” without giving details.