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

© Reuters. FILE PHOTO: Aramco Trading’s CEO and President Ibrahim Al-Buainain speaks at the 34th Asia Pacific Petroleum Conference (APPEC) in Singapore

(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 (SE:)’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.

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