OPEC: Global demand for oil is strong, and the decline in prices is linked to concerns

Baghdad-INA 

The Secretary-General of the Organization of the Petroleum Exporting Countries, Haitham Al-Ghais, confirmed today, Thursday, the strength of global actual demand for oil.

Al-Ghais said in a press statement followed by the Iraqi News Agency (INA), that "the decline in oil prices reflects concerns about the economy and the global actual demand for oil is strong."
He added that "compensating for Russian production is not an easy thing," noting that "the ability to meet demand for oil will be a difficult task without addressing the lack of investment.".

Al-Ghais added that "it is too early to say what OPEC + will do at the upcoming September 5 meeting, as it may increase or decrease production," noting that "we are optimistic about the prospects for oil in 2023."