OPEC’s Al Ghais: China to account for 500K-600K bpd of new oil demand this year
Haitham Al Ghais, the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Wednesday, “China is expected to account for 500k-600K bpd (barrels per day) of new oil demand this year.“
“We are cautiously optimistic about China, but Europe is a concern.” He added.
Meanwhile, it was reported that Kazakhstan is planning to increase its oil production to 2 million bpd by the end of 2024.