VINACHEM

OPEC expects oil demand to grow by 2.2 million barrels per day in 2024, and the demand will be stable and strong, OPEC Secretary General Haitham Al Ghais said on Thursday.
The world needs all sources of energy, there should be no discrimination, but for now the demonization of the oil industry is noticeable, the OPEC head added.

"Talking about this year, we see oil demand growing at around 2.2 million barrels a day, year-on-year growth," the OPEC head said at the session of the St. Petersburg International Economic Forum (SPIEF), adding that the demand is expected to be strong and stable.

Global oil demand might grow to 115 million barrels per day by 2030, Russian Deputy Prime Minister Alexander Novak said on Thursday.

"In the long term, we understand that even for the period until 2030 ... today’s 102 [million barrels per day] can turn into 110-115 million barrels per day. Because petrochemistry is developing, the number of flights is increasing," Novak said at the St. Petersburg International Economic Forum (SPIEF).

The latest decision by OPEC+ is in the right direction and allows creating certainty for energy markets, Russian Deputy Prime Minister Alexander Novak said on Thursday.

"Today, the main directions of interaction until the end of 2025 have been determined ... Decisions have been made. They, in our opinion, have an absolutely correct vector, which allows us to show a certain perspective and create certainty for the energy markets. We understand how we will act in the third quarter, we understand what manufacturers will do until the end of 2025," Novak said at the session of the St. Petersburg International Economic Forum (SPIEF).