OPEC chief sees robust global oil demand this year

Global demand for oil is expected to remain robust this year, said Haitham Al Ghais, secretary general of the Organization of the Petroleum Exporting Countries (OPEC) on Thursday.

Speaking at the St. Petersburg International Economic Forum in Russia, Al Ghais said there had been no signs sufficient to change existing oil demand forecasts.

He also stressed that investments in the oil industry should not be affected by one-off events occurring anywhere in the world.

In its monthly oil market report released on May 13, OPEC forecast that global oil demand would grow by 1.17 million barrels per day in 2026 compared with 2025, down from its forecast in April.

OPEC chief sees robust global oil demand this year

OPEC chief sees robust global oil demand this year

Russian President Vladimir Putin signed a presidential decree on Monday extending the deadline for the mandatory ruble settlement mechanism for natural gas trade from the originally scheduled October 1, 2026 to April 1, 2027.

Under the ruble settlement rule, foreign buyers are required to deposit rubles into the Russian bank accounts of Russian suppliers in order to complete payment.

Putin extends ruble payment requirement for foreign gas buyers to April 1 of 2027