Aramco expects oil demand growth in 2025: CEO

Amin Nasser, CEO and President of Saudi Aramco

Saudi Aramco President and CEO Amin Nasser said that the global oil demand reached new highs in 2024, and the growth is expected to continue in 2025.

“Our strong net income and increased base dividend illustrate Aramco’s exceptional resilience and ability to leverage its unique scale, low cost, and high levels of reliability to deliver industry-leading performance for our shareholders and customers,” Nasser said in a press release to announce financial results for 2024.

The oil major emphasized that it continues to make progress on projects to maintain maximum sustainable crude oil capacity, expand gas capabilities, achieve further integration of upstream and downstream businesses to capture additional value, and help mitigate greenhouse gas emissions.

Aramco is also adopting and deploying AI technologies and solutions at scale across its operations, unlocking greater efficiencies and value creation throughout its business, Nasser said, confirming that capital discipline is at the core of Aramco’s strategy, enabling it to deliver growth and capture value across conventional and new energy solutions.