UAE’s ADNOC CEO says oil demand may fluctuate, remains strong long-term

A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. (Reuters)

Abu Dhabi National Oil Company’s chief executive Sultan al-Jaber said on Monday that oil demand may fluctuate in the months ahead but the long-term fundamentals of the oil industry remain strong.

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“We expect that oil demand will grow to over 105 million barrels per day by 2030, and continue to supply over half the world’s energy needs for many decades to come,” al-Jaber told the annual ADIPEC oil and gas virtual conference.

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Last Update: Monday, 09 November 2020 KSA 13:49 - GMT 10:49
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