Oil major Saudi Aramco reported a 22.7% drop in Q4’20 revenues as the pandemic took a bite out of demand. The firm’s CEO, Amin Nasser, has stated that at the start of 2021 “demand remains challenged in the U.S. and Europe, but with vaccine deployment accelerating, we expect recovery to accelerate as well, especially in the second half of 2021”. There are signs of U.S. demand for imported oil already improving, with shipments up by 3.0% year over year in February. That may partly reflect disruptions caused by freezing weather in Texas, however. Imports linked to Saudi Aramco’s refining di...