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OPEC's Al Ghais "Not Concerned" About Russian Flows Rerouting

OIL

OPEC Secretary General Haitham Al Ghais said he was not concerned about the rerouting of Russian crude exports to countries such as China and India.

  • He said OPEC had witnessed many changes in flow patterns in the past.
  • Al Ghais also expressed optimism over China reopeing after Covid-19 restrictions, and said top crude importer's oil demand will grow 500,000 to 600,000 bpd in 2023.
  • Opec expects global oil demand growth to grow 2.3 million barrels per day in 2023, he said.

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