18 June 2022

OPEC Secretary-General Expects Increase in Energy Demand in Two Years

International and Arabic
  • OPEC_Sec

Baghdad, June 18 (QNA) - OPEC Secretary-General Mohammad Barkindo expected an increase in the volume of energy demand between 2023 and 2024, stressing the need for the global economy to use renewable energy.
In a speech at the Energy Forum in Baghdad, Iraq, Barkindo underlined the need to prepare on a long-term level for any challenges, such as high inflation, weakness in the supply chain, and economic decline in the European Central Bank, as well as Japan, in light of the continuing repercussions of the COVID-19 pandemic and the war in Ukraine.
He pointed out that the COVID-19 repercussions still affect the energy market, especially in the countries of Asia and China, stressing the need for a future vision that would enable energy prices to be controlled and to face the severe effects of crises.
The international economy will need to double the energy it consumes, from spending USD 124 trillion in 2020 to USD 270 trillion in 2024, he added. (QNA)

Keywords

Economy, International
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