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Source: معلومات مباشر
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Heitham Al-Ghais, Secretary General of OPEC, confirmed that the East-West pipeline in Saudi Arabia is a core component of global energy security. It serves as an insurance policy to address emergencies and developments that could impact oil supplies. He pointed out that this pipeline, which extends from eastern to western Saudi Arabia, has proven its importance in managing recent challenges and supporting supply security, and it exemplifies countries’ readiness for future events. Market forecasts indicate an increase in global oil demand to 1.7 million barrels per day by 2027, though expectations for demand growth in 2026 have been revised downward to 400,000 barrels per day due to demand slowdown and emergency reserves. Al-Ghais emphasized that oil still accounts for more than 30% of the global energy mix, and that its supplies are vital for global energy security, while raising questions about how the shift toward reducing emissions might impact long-term investments in fossil fuels.
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