31 Aug 2023

Why the world needs more oil, not less – Al Ghais

Vienna, Austria, 31 August 2023--OPEC Secretary General, HE Haitham Al Ghais, stated that the world would continue to witness rising oil demand amidst global energy transitions.

In an op-ed entitled, “Why the world needs more oil and not less,” Secretary General Al Ghais highlighted OPEC’s perspective concerning energy security, energy transitions and climate change.

Al Ghais underlined the importance of using all energy sources to ensure energy security and avoid volatility while reducing emissions.

“No single form of energy can currently meet expected future energy demand,” he wrote, adding that an ‘all-peoples, all-fuels and all-technologies’ approach was required to address climate change and ensure stability.

The Secretary General also noted the reality that if oil vanished today, many vital products and services that use oil or its derivatives would vanish too.

The article can be viewed on CNBC at the following link.