OPEC Calls for Increased Oil Investment as Future Demand Persists

OPEC Secretary General Haitham Al Ghais emphasized the necessity for increased investment in oil and gas sectors, highlighting that oil will maintain a significant role in the global energy mix through 2050.

Haitham Al Ghais, the Secretary General of OPEC, has called for increased investment in the oil and gas sectors.

Speaking at the Russian Energy Week conference in Moscow, Al Ghais emphasized that oil will continue to account for 30% of the global energy mix by the year 2050.

This statement underscores the future reliance on oil despite global efforts to transition to renewable energy sources.

(With inputs from agencies.)