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OPEC Remains Optimistic on Oil Demand Forecasts

OIL

OPEC remains optimistic about global oil demand growth and views under-investment as a risk to energy security according to OPEC Secretary General Haitham Al Ghais earlier tody in Abu Dhabi.

  • "We still see oil demand as quite resilient this year, as it was last year," Al Ghais said. The group places y/y demand growth at over 2.3mn bpd currently he added.
  • "We are...running quite low on spare capacity, we have said this repeatedly and this requires a concerted effort by all of the stakeholders to see the importance of investing in this industry," he said.
Energy BulletsCommodities
Energy BulletsCommodities

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