Global oil demand has risen to 95mln bpd -Al Jaber

The oil and gas industry has reduced investments over the past five years

  
Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO, is seen on a screen during the Future Investment Initiative conference in Riyadh, Saudi Arabia, October 30, 2019.

Sultan Ahmed Al Jaber, UAE Minister of State and the Abu Dhabi National Oil Company (ADNOC) Group CEO, is seen on a screen during the Future Investment Initiative conference in Riyadh, Saudi Arabia, October 30, 2019.

REUTERS/Hamad I Mohammed

NEW YORK- The global oil market is rebalancing, and oil demand has risen to 95 million barrels per day, said Sultan Ahmed Al Jaber, chief executive of the Abu Dhabi National Oil Company on Thursday.

The oil and gas industry has reduced investments over the past five years, as companies prioritized capital discipline and as investors grew more motivated by environmental concerns, Al Jaber said during the Columbia Global Energy Summit.

(Reporting by Stephanie Kelly and Laura Sanicola) ((Stephanie.Kelly@thomsonreuters.com; 646-223-4471; Reuters Messaging: stephanie.kelly.thomsonreuters.com@reuters.net))


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