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[size=36]Oil demand to double by 2050: minister[/size]
Political | 01:52 - 07/06/2019
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BAGHDAD (Reuters) -
Oil Minister Thamer Ghadhban expects a bright future for oil, indicating that demand for petrochemicals will double by 2050, boosting the importance of oil.
In response to a question about the fate of the OPEC + production reduction agreement, Ghadban said, "There is a great desire among OPEC producers and producers from outside to continue production cuts until the end of the world."
He stressed at the Petersburg International Economic Forum that the participants in the agreement are seeking to stabilize the oil market, and provide sufficient supplies at fair prices for the producer and consumer.
The international economic forum, which will last until Saturday, will take place on Thursday with active international and Arab participation from more than 140 countries. Participants will discuss the challenges facing the world economy, especially the energy sector.
Oil Minister Thamer Ghadhban expects a bright future for oil, indicating that demand for petrochemicals will double by 2050, boosting the importance of oil.
In response to a question about the fate of the OPEC + production reduction agreement, Ghadban said, "There is a great desire among OPEC producers and producers from outside to continue production cuts until the end of the world."
He stressed at the Petersburg International Economic Forum that the participants in the agreement are seeking to stabilize the oil market, and provide sufficient supplies at fair prices for the producer and consumer.
The international economic forum, which will last until Saturday, will take place on Thursday with active international and Arab participation from more than 140 countries. Participants will discuss the challenges facing the world economy, especially the energy sector.
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