An optimistic statement about oil today from OPEC

OPEC Secretary-General Haitham Al-Ghais said on Monday at an energy sector conference in Abu Dhabi that OPEC is optimistic about demand and sees the lack of investment as a threat to energy security. “We still expect demand for oil to be very strong this year as it was last year,” he said, noting that the organization’s expectations indicate demand growth on an annual basis by more than 2.3 million barrels per day. Al-Ghais stressed the importance of continuing investment in the oil and gas sector and said that he believes that calls to stop investing in oil will be counterproductive.