OPEC Secretary-General for addressing increasing oil demand with Russia

The demand for oil on the world market by 2020 will increase by 30 per cent, OPEC Secretary-General Alvaro Silva Calderon said at the opening of the All-Russia Week of Oil and Gas.

Since the demand for oil on the world market will increase by 30% to make approximately 2 bln tons of oil annually or maybe even more, we must think of the future policy in the oil and gas sector, he said.

Calderon noted that Russia would play an important role in meeting the increasing requirements for energy products, and that is why, he said, it is necessary that the future policy in the oil and gas branch be worked out jointly with the Russian side.

The OPEC Secretary-General also said that the question of pricing should also be viewed as a major element of a new policy in the oil and gas sector.

It is necessary that the prices for oil and gas be interconnected, that they change proportionately. If the oil price falls the price for gas will drop as well, he said.

Calderon also noted that relations with Russia were very important for OPEC. We must dynamically develop them. It is important to co-ordinate our actions so as to meet the world market's requirements, he said.

Subscribe to Pravda.Ru Telegram channel, Facebook, RSS!

Author`s name Editorial Team