Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd

The natural gas crunch has increased global oil demand by 500,000 bpd, the chief executive of Saudi Aramco said at this week's Energy Intelligence Forum. "There is higher demand," Nasser said, as quoted by Bloomberg. "There is some shift we have seen from gas to liquids, especially in certain markets in Asia." Energy Intelligence quoted the executive as saying that he expected oil demand to reach 99 million bpd by the end of this year and rise further to top 100 million bpd in 2022. This appears to have strengthened Aramco's resolve to boost its…