MOSCOW, October 3. /TASS/. Calls to halt investments in oil and gas are misguided and dangerous because they pose a threat to future energy security, OPEC Secretary General Haitham Al Ghais said in an interview with Kazinform news agency.

"Calls to stop investing in oil and gas are misguided and dangerous, as they jeopardize future energy security. For global economic growth—including in Kazakhstan—continued investment in oil, gas, and all forms of energy is absolutely essential," Al Ghais said.

"Since 2016, OPEC and OPEC+ have consistently worked to preserve stability in the oil market. A clear example was in 2020, when the COVID-19 pandemic caused an unprecedented collapse in global demand. Through decisive production adjustments, OPEC+ helped restore stability relatively quickly, which also supported the broader global economy," the OPEC Secretary General said.

"Going forward, we will continue to apply the same principles—balancing supply and demand and creating a predictable environment that encourages investment. Stability is not only about the short term; it is about ensuring that future demand is met," he stressed.

According to OPEC forecasts, global oil demand will reach 123 mln barrels per day by 2050, Al Ghais noted. "To achieve this, we must invest today, because the industry requires years to bring new capacity online, while natural decline rates continue at around 5-6% annually," he added.