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

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. "We see more demand for jet fuel and naphtha especially for liquid-to-chemical projects,

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.