CALGARY — The secretary-general of the Organization of Petroleum Exporting Countries says there’s no peak in oil demand on the horizon. Haitham al-Ghais made his remarks in a speech to the Global Energy Show in Calgary.
CALGARY — The secretary-general of the Organization of Petroleum Exporting Countries says there’s no peak in oil demand on the horizon.
Haitham al-Ghais made his remarks in a speech to the Global Energy Show in Calgary.
He says primary energy demand is forecast to rise by 24 per cent between now and 2050, surpassing 120 million barrels a day.
Al-Ghais says that will require US$17.4 trillion in investment over that time.
He says the prediction isn’t based on ideology, but on data.
Al-Ghais says OPEC takes climate change “very, very seriously,” but he criticized net-zero targets that he calls “unrealistic,” “fixated on deadlines” and “detached from reality.”
This report by The Canadian Press was first published June 10, 2025.
Lauren Krugel, The Canadian Press