Oil Consumption to Hit 100 Million bpd `Much Sooner` than Projected

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OPEC Secretary-General Mohammad Barkindo said on Wednesday that world oil consumption would hit 100 million barrels per day later this year. “much sooner“ than earlier projected.

Barkindo added at an oil and power conference in South Africa that OPEC was exploring ways of further institutionalizing a declaration of cooperation.

“The world will attain the 100 million barrels a day mark of consumption later this year. much sooner than we all earlier projected. Therefore stabilizing forces which create conditions conducive to attracting investments are essential.“ he said.