OPEC’s Al Ghais: China to account for 500K-600K bpd of new oil demand this year
|Haitham Al Ghais, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Wednesday, “China is expected to account for 500k-600K bpd (barrels per day) of new oil demand this year.“
“We are cautiously optimistic about China, but Europe is a concern.” he added.
Additional quotes
"Russian production has been resilient, and it has managed to find new homes.”
"It is not just China and India, I think it is also Turkey."
Meanwhile, it was reported that Kazakhstan is planning to increase its oil production to 2 million bpd by the end of 2024.
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