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OPEC does not forecast oil demand peak — Secretary General

Haitham Al Ghais added that a dip in investments has been observed in the market recently and the time has now come to resume them in order to stimulate the sector

ST. PETERSBURG, June 19. /TASS/. The Organization of Petroleum Exporting Countries (OPEC) does not forecast the global oil demand to reach its peak in the near future or even by 2050, OPEC Secretary General Haitham Al Ghais said at the St. Petersburg International Economic Forum (SPIEF).

"For us, to put it simply, we don't see a peak in oil demand, not even by 2050," Al Ghais said.

A dip in investments has been observed in the market recently and the time has now come to resume them in order to stimulate the sector, the OPEC Secretary General added.

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