OPEC Optimistic on Oil Demand
This is a Canada news story, published by calgaryherald, that relates primarily to Haitham Al Ghais news.
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oil consumptioncalgaryherald
•Business
Business & Economics
Varcoe: 'No peak in oil demand on the horizon' OPEC head tells Global Energy Show — as lower crude prices expected next year
70% Informative
Haitham Al Ghais says oil demand will continue to grow for years , despite critics who believe oil consumption will peak soon.
He said $640 billion in new industry investment will be required each year until 2050 .
But a new report by the U.S. Energy Information Administration forecasts that benchmark West Texas Intermediate crude will average just $55 a barrel next year .
The group’s latest monthly oil market report projected global demand for oil this year will grow by 1.3 million bpd.
OPEC ’s new plan to bring back production has been mixed, Salazar says.
Oil industry leaders call for Canada to overhaul its federal regulatory system.
Cenovus Energy CEO Jon McKenzie spoke about how a “plethora of stick-based regulations have kept the industry unable to reach its full potential” in Canada .
VR Score
76
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77
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41
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formal
Language
English
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50
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External references
7
Source diversity
5