Riyadh – Mubasher: The hike of global oil demand will drive Saudi Arabia and the US to increase their crude production, as the market is able to take in the spiralling shale oil output, Saudi Aramco CEO Amin Nasser said.
Saudi Aramco, the world's largest oil producer, will continue its expansion plans in the US, despite imposing hefty tariffs on imported steel and aluminum, CNBC reported, citing Nasser as saying.
These tariffs will not weigh largely on the Middle Eastern oil giant’s business in the US, Nasser added.
Aramco CEO affirmed that there will be a rising demand for oil in the coming period despite large fluctuation in crude prices, forecasting an increase in shale oil production.
