• OPEC’s Al Ghais: OPEC sees global oil demand rising to 110mn bpd by 2045

Market news

26 June 2023

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.

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.