Saudi Aramco CEO Amin Nasser expresses optimism about China's oil demand and warns against underestimating future global oil needs.

During the Singapore International Energy Week conference, Aramco's CEO Amin Nasser called for a new energy transition plan, "Transition Plan 2.0," which

Saudi Aramco is "fairly bullish" on China's oil demand especially in light of the government's stimulus package which aims to boost growth, the head of the state-owned oil giant said on Monday.

Saudi Aramco is bullish on China’s oil consumption after the government introduced a raft of stimulus measures aimed at reviving Asia’s biggest economy, Chief Executive Officer Amin H. Nasser said.

The oil giant announced a 3.4% decline in Q2 profits in early August, due to reduced crude volumes and weaker refining margins.