Aramco CEO says market fundamentals strong, oil demand set to rise by over 2M bpd in H2

Saudi Aramco President and CEO Amin Nasser

Oil market fundamentals remain strong, with demand expected to rise by more than two million barrels per day (bpd) in H2 2025, compared to H1 2025, said Amin Nasser, President and CEO of Saudi Aramco.

In the company's financial results statement, he said Saudi Aramco once again demonstrated its resilience in H1 2025, delivering robust profitability, consistent shareholder distributions and disciplined capital allocation.

“Despite geopolitical headwinds, we continued to supply energy with exceptional reliability to our customers, both domestically and around the world,” Nasser added.

The CEO affirmed the company believes that hydrocarbons will continue to play a vital role in global energy and chemical markets.

He also stressed that Aramco is well-positioned to meet customer demand over both the short and long term.

Nasser said that the company continues to invest in various initiatives, including new energies and digital innovation, with a strong focus on artificial intelligence (AI).

These initiatives aim to capitalize on Saudi Aramco’s scale, low-cost, and technological advancements for long-term success.

Meanwhile, Ziad T. Al-Murshed, Executive Vice President and Chief Financial Officer at Saudi Aramco, said the company’s H1 2025 performance underscores its financial discipline and the strength of its integrated business model.

He said that the company continues to generate robust earnings and free cash flow, adding that it has strategically tapped debt markets to further optimize its capital structure.

“As we continue to invest prudently, we remain focused on delivering sustainable returns while preserving the resilience of our balance sheet,” Al-Murshed stated.

According to data available with Argaam, Saudi Aramco posted a decline in net profit, after minority interest, to SAR 181.3 billion for the first half of 2025, down from SAR 209.5 billion in the prior-year period. Q2 2025 net profit stood at SAR 85.6 billion.