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UAE can lead in low-carbon energy production, says UAE minister at global energy summit

UAE can lead in low-carbon energy production, says UAE minister at global energy summit
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Global oil demand has risen to 95 mln bpd -Al Jaber

EnergyGlobal oil demand has risen to 95 mln bpd -Al Jaber Reuters 1 minute read Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo The global oil market is rebalancing, and oil demand has risen to 95 million barrels per day, Sultan Ahmed Al Jaber, chief executive of the Abu Dhabi National Oil Company, said on Thursday. The longer-term forecast has demand rising to 106 million bpd by 2030, Al Jaber said during the Columbia Global Energy Summit. The oil and gas industry has reduced investments over the past five years, as companies prioritized capital discipline and as investors grew more motivated by environmental concerns, he said.

ADNOC CEO says vaccination campaigns helping healthy rebalancing of oil market

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The economic landscape is looking quite positive, he said at the Columbia Global Energy Summit, which was webcast. We are seeing a healthy rebalancing of oil markets. Demand is back up to 95 million b/d. Pre-pandemic global demand levels stood around 100 million b/d, a level OPEC expects will not be reached this year. ADNOC pumps the vast majority of crude in the UAE, which holds the seventh-largest oil reserves in the world. The UAE as a whole produced 2.61 million b/d in April, in line with its quota under a supply accord between OPEC and its allies.

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