Al-Ghais says some demand challenges loom but there’re ‘good signs’

04/11/2024 Argaam
Haitham Al Ghais,OPEC Secretary-General

Haitham Al Ghais, OPEC Secretary-General 

OPEC Secretary-General Haitham Al Ghais stressed that there is “no peak oil on the horizon” as the world continues to grow, Reuters reported.

 

Addressing the Abu Dhabi International Petroleum Conference (ADIPEC), Al Ghais pointed out that the group is seeing “some very positive numbers” about oil demand in the short and long term. There are some challenges, but the picture is not as negative as some make it to be, he added.

 

This followed the OPEC+ announcement on Nov. 3 of postponing the plan to gradually increase oil production until year-end, extending production cuts for another month.

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