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Saudi Arabia and US, seen as oil market rivals, are actually growing together, says Saudi Aramco CEO

The world’s growing appetite for oil will leave plenty of room for both Saudi Arabia and the United States to ratchet up production, Saudi Aramco CEO Amin Nasser said in a CNBC interview.

The two countries are seen jockeying for dominance in the global oil order, but the head of the world’s largest energy company said their fates are actually closely aligned.

Nasser offered his assessment on Monday, the same day the International Energy Agency forecast that U.S. drillers will account for nearly all of the global growth in oil production in the coming years.

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