Opec Boss Slams Zero zero goals, promotes a great future talking about Kalgary star-news.press/wp

The Secretary of Organization of Exporter Oil Exporters has indicated that the world’s oil thirst continued in decades and the investment in the sector is needed to meet these needs.

Haitham Al-Ghais gave his notes in Calgary’s energy show in Calgary, when oil prices are weakened and experts predict that they will fall later this year.

“Simply playing, there is no peak of oil demand. It maintains the rise of oil demand, if new records go all year round, it is a clear example of what I am saying,” he said in his speech.

The main demand of energy rises between 24 per cent, and among the 2050s, it has exceeded 120 million barrels a day. Today, oil demand is about 103 million barrels per day.

“This grown application will always be appropriate and necessary investments in the oil industry,” pointing to the need for $ 17.4 billion in the next 25 years.

Praise Alberta Oil and Gas

The General Secretariat used its lecture for the ability to grow the oil and the gas industry for years, its technological improvements and the role is as a leader to develop carbon capture and storage facilities.

OPEC has achieved his climate change “very seriously,” he finished his address and each of his countries has signed in the Paris Climate Agreement.

However, the company criticized Net-zero zero goals and countries “realistic”, “established in terms” and “separated from reality”.

Instead, he said the world should be focused on reducing emissions and using all kinds of energy to meet the needs of the growing population in the world.

In 2024, energy sector emissions rose by 0.8 percent compared to 2023, depending on the international energy agency, and the global economy spread more than three percent.

In Canada, the federal government has already lost its 2030 goal, to reduce carbon emissions at least 40% depending on the level of 2005 at least 4030 levels.

Hard times

The lecture comes at the time of the oil raw material prices and many companies turn their backs on investment.

OPEC are producing more this year, along with Canada, US and Guyana with more departure. Last month, Vienna-based posters agreed to rise by 411,000 barrels in June, with a gradual return of 2.2 million barrels a day.

For context, Canada produces a total of about five million barrels a day.

At the same time, the global consumption of oil is not as early as expected for slowing global trade.

“The demand is not falling, but the demand is weak. In fact, it seems like ’08 -’09’s global financial crisis, since Jim Burkhard, in a conversation with global global research in S & P, with CBC news.

A great drop is predicted

North American oil prices are about $ 65 for each barrel for last days, but S & P anticipates the last $ 40 prices for each year of $ 40 per year.

“We could see the prominent side of the price right now. It depends on the concerns of the economy and tariffs and Opec. For now, the current trends, it seems that the offer will be much more requested this year,” he said.

More than 30,000 people from 100 countries are expected to attend Global Energy Show in Calgary this week.