Analysts fail to share the blind optimism of Saudi Aramco’s chief

The Telegraph | Aug 10, 2020 at 1:59 PM
  • Despite suffering a massive collapse in profits for the second quarter of 2020, the boss of energy titan Saudi Aramco struck an optimistic note in a call with reporters yesterday afternoon.
  • Despite Aramco banking on oil prices steadily increasing as lockdowns are lifted, a mild second wave of Covid-19 is now Rystad Energy’s base case scenario for oil demand this year.
  • As the virus rages across South America, India, and the US many of the key drivers of oil demand, including international travel, remain muted.