Saudi Aramco CEO Amin Nasser is optimistic that improving bilateral Iran-Saudi relations will have a positive impact on global oil markets. In a groundbreaking development, China late last week brokered a cautious détente between the two regional rivals under which they are to restore diplomatic relations within two months.

“The deal will hopefully result in less geopolitical tension and enhance to regional stability, which definitely will have a positive impact on the global market,” Mr Nasser told journalists on 12 March. (CONTINUED - 625 WORDS)