Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would keep growing until at least 2050, a key year in the battle against climate change. The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency,...
Aramco chief expects oil demand to rise by 1.5 mbpd in 2024
Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an increase of 1.5 million barrels per day (bpd) to reach 104 million bpd in 2024. “This is after rising by roughly 2.6 million bpd in 2023," Nasser said. "Higher demand,...
OPEC revises oil demand projection to 3.1mn barrels a day
The recent drop in oil prices reflects global concern over an economic slowdown and “masks physical market fundamentals," says OPEC secretary general.
Aramco posts record profit of $48.4bn in Q2
Net income leapt 90% for the world's biggest oil producer, which clocked its second straight quarterly record after announcing $39.5bn for Q1.Oil demand to top pre-pandemic level next year: OPEC
The optimistic forecast comes as the OPEC cartel nations and their allies are beginning to raise output to meet recovering demand.
