Saudi oil giant Aramco (2222.SE), a longtime cash cow for the kingdom, expects oil demand to remain resilient this year and sees further upside if the U.S. and China successfully resolve their trade dispute.

“We expect demand will continue to be steady and growing compared to 2024, and if the whole issue around tariffs is resolved… that also will add to additional demand that will be seen from the market,” a top executive said in a post-earnings conference call on Monday.

Washington and Beijing agreed to temporarily slash reciprocal tariffs earlier on Monday, in a deal that surpassed expectations as the world’s two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets.
Source: Reuters (Reporting by Hadeel Al Sayegh and Manya Saini in Dubai; Editing by Toby Chopra)