OPEC Secretary General Muhammad Sanusi Barkindo says overall oil demand growth of +6.5 mb/d is projected in 2021.
Barkindo said OPEC is optimistic that the future will be much brighter and that the world will see a way out of the covid19 pandemic next year.
Barkindo says India is one of the world’s fastest-growing economies and a major driver of global economic and oil demand growth.
Reiterates that India is importing around 80% of its oil from OPEC Member Countries, and as the investment ties with India is increasing talks between the two remain essential
especially in light of the circumstances that have struck the energy markets in 2020 in the wake of COVID-19.
Barkindo said this at the 4th High-level Meeting of OPEC-India Energy Dialogue via videoconference.
The Secretary General commended India’s enthusiasm and support of producer-consumer dialogue which he said has greatly contributed to OPEC’s success in pursuing sustainable stability of the oil market
Barkindo says Though it has been a challenging year OPEC have kept moving forward and thus also achieved great success, not least in the realm of multilateral dialogue.
He commended India sustaining the tradition of collaboration to
sustaining market stability and well supplied market.
He pray that the terrible pandemic and the virus will pass quickly.