Riyadh – Mubasher: Oil demand is expected to increase in 2018 and 2019, said Saudi minister of Minister of Energy, Industry and Mineral Resources Khalid Al-Falih.
Oil demand has improved over the last three years by more than 5 million barrels, Al-Falih added during an interview with CNBC Arabia.
The Saudi official noted that cooperation among oil-producing nations is another factor that would contribute to boosting oil demand.
In 2018, forecasts for world economic growth are deemed the best during the last ten years, which in return would be reflected on markets and oil demand, the oil minister said.
Al-Falih indicated that oil sector investments decreased to more than half of its level before four years, while the markets need further billions of dollars in investments.
