In 2024, the global oil demand is expected to reach 2.2 million barrels per day, OPEC Secretary General Haitham Al Ghais said in his address at the St. Petersburg International Economic Forum.

As a rule, the first quarter, when the demand is the lowest, is always the worst quarter of the year, Al Ghais said, adding, however, that he expects a stable and high global oil demand in the future.

The Secretary General noted that the OPEC forecast for global oil demand in 2023 was more accurate, and those who criticized it had to revise their forecasts almost every month until finally their forecast was evened out.