2023-10-09 09:39:00
© Archyde.com. Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), speaks during a conference in Kuala Lumpur, Malaysia, on June 26, 2023. Photography: Hasanur Hussein –
DUBAI (Archyde.com) – Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Monday during the launch of the “Global Oil Outlook” report in the capital, Riyadh, that action on climate should not come at the expense of global energy security.
Al-Ghais continued, “Unfortunately, there are those who continue to promote a very dangerous hypothesis about excluding oil, while talking about a decrease in demand for oil by about 25 million barrels per day by 2030.”
Regarding calls to stop investments in new oil projects, he said, “We believe that this will only lead to increased volatility that will hinder economic development and exacerbate energy poverty.”
(Reporting by Maha Al-Dahan and Nadine Awadallah – Prepared by Marwa Gharib for the Arab Bulletin)
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