Saudi Arabia’s state oil giant Aramco says that it doesn’t believe all the ‘peak oil demand hype’ and expects that its crude oil will be in high demand for decades to come. While the Kingdom says that it’s working on the Vision 2030 strategy to diversify its economy away from oil, the Saudis and their oil firm are increasingly looking to lock in future oil demand in the refining and chemicals businesses in all major markets in the world to open new avenues of sales for their oil and to make sure that Saudi crude will have a market until the world needs oil. Over the past few years, Saudi Aramco has been pursuing deals to take part in or to supply crude oil to China and India—the two largest oil demand growth centers and prized markets for any oil producer. Now Aramco is setting its sights on Europe […]