OPEC vs IEA… A Debate on Demand

World of Oil Derivatives

For a special episode of World of Oil Derivatives, Group Chief Executive Greg Newman is joined by Managing Director of Benchmarking, Jorge Montepeque and Group Head of Research, Harry Tchilinguirian for a detailed discussion regarding global oil demand.

Greg, Jorge, and Harry delve into the differing perspectives on oil demand from two major agencies, the IEA and OPEC, focusing on their projections for both short and long-term global oil demand growth.

The discussion highlights the growing contentiousness between the IEA and OPEC,highlighted by recent comments from OPEC's Secretary General Haitham Al Ghais. He criticized the IEA, claiming that the “IEA’s narratives for oil are dangerous, especially for consumers, and could lead to unprecedented volatility.”

Central to the controversy is over when oil demand will peak, plateau, and eventually decline, and at what rate? The debate has significant implications for future investments in the oil sector to meet increasing demand. The debate is highly charged, taking place amidst the broader context of energy transition and the goal of achieving net-zero emission target.

If you would like to connect with any of our hosts on LinkedIn, please click on the hyperlinks below:

Greg Newman: https://www.linkedin.com/in/oilderivatives/

Jorge Montepeque: https://www.linkedin.com/in/jorge-montepeque-38410bb6/

Harry Tchilinguirian; https://www.linkedin.com/in/tchiling/