The oil market has certain problems, but the peak in oil demand is unlikely to happen. This is due to the continued growth of the global economy. This statement was made by OPEC Secretary General Haitham al-Ghais at the ADIPEC energy conference.
“A few years ago a lot of people said oil demand would peak in 2030, now demand will peak in 2035. I’m sure in a few years they’ll be saying oil demand will peak in 2040, and so on. This defies logic,” said OPEC Secretary General (quoted from TASS).
Haitham al-Ghais noted that the current picture, despite the obstacles, “is not as negative as some are trying to make it out to be.” He said that despite talking about slower growth in the economy, statistics tell a different story. “There will be no peak in demand,” said al-Ghais.
In particular, the US economy grew by 2.8 percent in the third quarter, while the Chinese economy grew by nearly 5 percent. “I think people are just used to growth of 9-10%, but 5% for an economy the size of China is important,” concluded the OPEC Secretary General.
More news in our official telegram channel “Fontanka SPB online”. Subscribe to be the first to know important things.
#OPEC #Secretary #General #Oil #demand #peak
2024-11-04 16:59:00
