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Saudi Aramco President and CEO Amin H. Nasser discussed the oil-market outlook with reporters during the World Economic Forum meeting in Davos on 22 January 2026. Reuters reported the remarks that day as a reporters' interview; it does not name one interviewer or provide a transcript link. This record is separate from Aramco Life's AI video interview.
According to Reuters, Nasser said demand remained strong in emerging economies, followed by China and the United States; total oil demand reached a record in 2025 and was expected to rise again in 2026. He described global oil stocks as low relative to the five-year average and most barrels offshore as sanctioned. These are the CEO's market assessments; this record does not independently measure inventories.
Nasser put global spare oil production capacity at 2.5% and said a minimum of 3% was needed. He said spare capacity could fall further if OPEC+ unwound more production cuts. The source does not define the denominator for these percentages, so Wellficent preserves them as reported and does not convert them into barrels per day.
Wellficent analysis: Nasser's account of demand, stocks and spare capacity signals a relatively thin near-term supply buffer and is bullish in that limited sense. It is not a Brent price target, an Aramco production guide or an independent global balance forecast. The requested 20 January CNBC appearance is not verified by this source; this record is for a distinct Reuters-reported press interview in Davos.