Saudi Aramco Commitments Not Impacted By Oil Price Moves

A senior official at state oil giant Saudi Aramco said on Monday that the recent fluctuations in oil prices would not threaten the company’s long-term supply commitments.

“The recent volatility is not new...(it is) in large (part) due to a weak global economy,” Amin Nasser, senior vice president for upstream operations at Saudi Aramco, told an energy conference in Abu Dhabi, adding that there was a “significant amount of oil” in the market.

“However, long-term fundamentals remain robust…Fluctuating oil prices don’t overshadow Saudi Aramco’s long-term commitment.”