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OPEC Secretary General: The organization is optimistic about the demand for oil
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Economy News - Baghdad
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Added 10/02/2023 - 12:55 PM
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Economy News - Baghdad
OPEC Secretary-General Haitham Al-Ghais said on Monday at an energy sector conference in Abu Dhabi that OPEC is optimistic about demand and sees the lack of investment as a threat to energy security.
Al-Ghais stressed the importance of continuing investment in the oil and gas sector and said that he believes that calls to stop investing in oil will be counterproductive.
“We still expect demand for oil to be very strong this year as it was last year,” he said, noting that the organization’s expectations indicate demand growth on an annual basis by more than 2.3 million barrels per day.
He added that investment in the oil and gas sector is important for energy security.
He said, "Our spare production capacity is declining sharply. We have said this repeatedly, which requires the combined efforts of all parties concerned to realize the importance of investing in this sector."
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Added 10/02/2023 - 12:55 PM
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