Global oil demand and non-OPEC supply forecasting workshop concluded today

Vienna, Austria, 2 October 2020--The Technical Workshop with agencies forecasting global oil demand and non-OPEC supply concluded today, 2 October 2020.

The two-day workshop was organized by the OPEC Secretariat as part of its continuous efforts to improve data accuracy and transparency, while enhancing in-depth analysis and comprehensive reporting.

Welcoming participants to the Workshop’s second and final day, HE Mohammad Sanusi Barkindo, OPEC Secretary General, emphasized that the objective of holding such a workshop is to provide an open and transparent platform for discussion on key topics related to comprehensive oil market forecasting, and data transparency and accuracy.

The Secretary General highlighted that OPEC meetings and workshops underpin the Organization’s overarching goal of promoting a sustainable stability in the global oil market.

He added: “The intricate and highly detailed work of the industry’s technical experts often goes unseen, but the fact is, this industry could not function without their valuable contributions.”

The two-day workshop was attended by large number of experts and delegates, and achieved a remarkable success with the valuable participation of representatives from OPEC Member Countries and non-OPEC oil producing countries participating in the Declaration of Cooperation.

Leading oil market forecasters attended from Energy Aspects, Rystad Energy, Energy Intelligence, Wood Mackenzie, the International Energy Agency, Argus Media, IHS Markit, S&P Global Platts and ESAI.

The workshop provided a unique platform for the exchange of information and the sharing of lessons learned related to oil market forecasting. Prospects for short to medium-term oil market prospects in light of the ongoing COVID-19 pandemic were also shared.

 

HE Mohammad Sanusi Barkindo, OPEC Secretary General

HE Mohammad Sanusi Barkindo, OPEC Secretary General