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Markets News

Demand issues to overshadow OPEC+ supply next year-Aramco trading arm chief

Oct 28 (Reuters) - The Organization of the Petroleum Exporting Countries and its allies will have to contend with a “lot of demand issues” before raising supply in January 2021, given throughput cuts by oil refiners, the head of Saudi Aramco’s trading arm said.

However, Chinese oil demand is likely to remain solid through the fourth quarter and into 2021 as its economy is growing while the rest of the world is in negative territory, chief executive Ibrahim Al-Buainain said an interview with Gulf Intelligence released on Wednesday. (Reporting by Arpan Varghese and Eileen Soreng in Bengaluru; Editing by Andrew Heavens)

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