OPEC calls belief in an imminent peak in oil demand "dangerous"
The Organization of Petroleum Exporting Countries (OPEC) is far from agreeing with the International Energy Agency’s (IEA) latest prediction that oil demand is about to peak, Bloomberg News reports, citing comments from OPEC Secretary General Haitham Al-Ghais.
OPEC’s own estimates predict that global oil demand will continue to grow until the middle of this century, around 2050.
The IEA, on the other hand, predicts that demand will peak already during this decade.
According to OPEC, this is a ”dangerous” forecast, especially for consumers, and could lead to unprecedented fluctuations in the energy markets, the oil cartel warns.
The spot price of European benchmark Brent crude oil was largely unchanged at USD 82.43 per barrel on Thursday afternoon.
(English edit by Kristoffer Grønbæk)
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