Petroleum Africa
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Thursday, September 6, 2018
Speaking at an industry event in Cape Town, OPEC Secretary General Mohammed Barkindo, said that world oil consumption will reach 100 million bpd before the end of 2018. This is much sooner than was previously forecasted.
“The world will attain the 100 million barrels a day mark of consumption later this year, much sooner than we all earlier projected,” he said.
Barkindo went on to say that a stable environment would be needed to encourage oil industry investment to meet this rising demand. “Therefore, stabilizing forces which create conditions conducive to attracting investments are essential,” he added.
“The priority … is on ensuring stability is sustainable, spreading confidence in the industry and encouraging an environment conducive to the return of investments,” Barkindo went on to say.
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