UAE: Oil Demand Has Already Increased To 95 Million Bpd ...Middle East

Oil demand has already increased to 95 million barrels per day (bpd), and the market is rebalancing, according to the chief executive of the Abu Dhabi National Oil Company (ADNOC), Sultan Ahmed Al Jaber. ADNOC pumps nearly all the oil in one of OPEC’s largest producers, the United Arab Emirates (UAE). Speaking at the virtual Columbia Global Energy Summit, Al Jaber also noted—as carried by Reuters—that investments in oil and gas had declined in the past five years with companies sticking to capital discipline since the previous…

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