Davos 2026: Aramco CEO says oil glut predictions are seriously exaggerated

Aramco's chief Amin Nasser believes oil glut forecasts are overstated. He points to robust demand and falling global oil reserves. This contrasts with analyst predictions of a 2026 supply surplus. Production increases from the United States, OPEC+ and other nations are expected to drive this surplus. Oil prices have remained above $60 per barrel for most of 2025.