(MENAFN) The state-owned producer's Chief Executive Officer said that Saudi Aramco expects oil prices to rebound in H1 of 2017, while demand remains healthy following two years of painfully low prices.
Nassar confirmed: "The gap between supply and demand is closing. Our anticipation now is that it will be balanced by the first half of 2017."
Additionally, he said the preparations for an initial public offering (IPO) of a stake in the company were going very well.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.