OPEC Secretary General Haitham Al Ghais clarifies that Saudi Arabia's postponed capacity expansion is not a signal of demand decrease, maintaining the long-term demand outlook as robust.

OPEC Secretary General Haitham Al Ghais stated that Saudi Arabia's decision to postpone its capacity expansion plans should not be misinterpreted as a sign that demand is falling. Al Ghais emphasized that his statement should not be misconstrued as him commenting on Saudi Arabia's specific decision, but rather emphasizing that the long-term demand outlook remains robust.

February 13, 2024
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