Oil rises after Saudi Aramco sees Asia demand nearing full rebound

Ints Kalnins/Reuters

  • Crude oil futures rose on Monday after Saudi Aramco issued a bullish forecast for market demand.
  • The oil producer’s CEO said Sunday he sees Asian demand nearing pre-pandemic highs as economies reopen.
  • West Texas Intermediate crude jumped as much as 1.8%, to $41.96 per barrel, while international standard Brent crude gained 1.3% to $44.98.
  • Prices were also supported by Iraq slashing production by 400,000 barrels per day. The move helps Iraq co…

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