en.Wedoany.com Reported - Saudi Aramco CEO Amin Nasser disclosed at an investor conference that global oil demand is expected to increase by 2 million barrels per day from July to December 2026, reaching 107.1 million barrels per day; the company estimates oil demand at 105.1 million barrels per day for the first half of the year.

Saudi Aramco stated that market demand for hydrocarbons remains stable. As oil supply conditions improve, the market will begin to recover, and importers will need additional volumes to replenish inventories.

Nasser emphasized that the volume of oil entering global markets through the Strait of Hormuz remains below pre-war levels. It will take months for tanker traffic on this transport artery to recover, as vessels are currently using alternative routes to avoid dangerous areas.

According to the first-half financial report presentation submitted by Saudi Aramco, shipping issues in the Strait of Hormuz since the start of the Middle East conflict have led to cumulative losses of 1.8 billion barrels in liquid hydrocarbon supply. The potential shortfall could have reached 2.6 billion barrels, but it has been offset through measures including Saudi Arabia redirecting substantial export volumes to the Yanbu port and multiple countries releasing strategic crude oil reserves.

Saudi Aramco forecasts that refining profit margins will remain high in the second half of 2026, driven mainly by reduced supply in key regions such as the Middle East, Russia, and Asia, stable fuel demand, and low fuel inventory levels.