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Geopolitics not influencing on oil demand, supply assessment — OPEC

OPEC reacts as required to geopolitical factors but always according to fundamental factors, Secretary General Haitham Al Ghais said

DUBAI, July 10. /TASS/. The OPEC position on the issue of oil supply and demand assessments is not determined by geopolitical instability, Secretary General Haitham Al Ghais told The National news outlet.

OPEC reacts as required to geopolitical factors but always according to fundamental factors, Al Ghais said. "We cannot pre-empt situations - we manage them," he noted.

The OPEC Secretary General also expressed confidence in oil demand growth. "Oil remains 30 per cent of global primary energy. That won’t change overnight," Al Ghais stressed.