OPEC’s Al Ghais: OPEC sees global oil demand rising to 110mn bpd by 2045
|Haitham Al Ghais, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said Monday, “OPEC sees global oil demand rising to 110mn barrels per day (bpd) by 2045.”
Meanwhile, Saudi Aramco CEO Amin Nasser said that “oil markets fundamentals remain generally sound for rest of the year.”
Additional quotes
“Developing countries, especially China and India, driving oil demand growth of more than 2mln bpd this year.”
“China's transport and petrochemical sectors are still showing signs of growth despite economic headwinds.”
Market reaction
Despite the upbeat comments from the energy leaders, WTI is trading 0.1% lower on the day at $69.50, as of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.