Weekend comments at an energy conference in Cairo from Haitham Al Ghais, the Organization of Petroleum Exporting Countries (OPEC)s secretary general.
- Opec expects global oil demand to exceed pre-pandemic levels in 2023
- sees demand rising to 110mn bbls/day by 2025
- Citing the improving economic outlook in China as it reopens
- “OPEC remains committed to supporting oil market stability”
Also:
- said the oil industry had been “plagued by several years of chronic underinvestment.”
- oil industry needs US$500 bn of investment annually until 2045
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Bullish oil comments from this guy ahead of oil markets opening for the new week.
