CARACAS, September 14, 2022 (Xinhua) OPEC Secretary General Haitham Al-Ghais said on Wednesday during his visit to Venezuela that the organization and its allies remain “on high alert” for any changes in the global oil and gas market. .
He stressed that the ministerial meeting of OPEC member states and non-OPEC producer countries “is ready to convene when it is necessary to agree on any changes that will occur in the market, if necessary”.
On Wednesday, Al-Ghais attended an official ceremony to mark the 62nd anniversary of the founding of OPEC, with Venezuelan Oil Minister Tariq El-Aissami and other Venezuelan government figures.
He also noted that there are signs of “optimism” in the market, including OPEC’s forecast that the global economy will grow 3.1% in 2022.
Despite this, recent geopolitical events in Europe and other parts of the world have led to “restrictions” that “seriously harm both producers and consumers,” said the organization’s secretary general.
According to the organization’s forecasts, global oil demand will see “an increase of 13 million barrels per day and will reach 110 million barrels per day in 2045,” according to Al-Ghais.
In light of this, he stressed that Venezuela will play an “important role” in the future of global energy, as it possesses the largest crude oil reserves in the world, estimated at around 300 billion barrels.
Meanwhile, El Aissami thanked Al Ghais’ visit and reiterated Venezuela’s “all necessary efforts and commitments” to continue supporting OPEC’s strategic goals.
He added that despite the difficult circumstances raised by the outbreak of the Corona virus, OPEC and its partners have been the guarantors of “economic stability” and the stability of the crude oil market.
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