Al Sharqiya

Vienna - Al sharqiya, July 11: OPEC Secretary General Haitham Al-Ghais predicted that the world's need for more energy will increase in the next decade, and explained that the necessary oil supplies must be provided in a stable and secure manner. Al-Ghais stressed, in statements during the OPEC International Symposium, that there is a great need to pump huge investments into the energy mix, with attention to a comprehensive approach that includes the use of modern technology, reducing harmful emissions, and taking into account the needs of the oil market, especially non-energy-exporting countries. Meanwhile, the International Energy Agency raised its forecast for oil supply growth this year after the OPEC alliance decided to pump more oil. However, the agency reduced its forecast for oil demand and said that oil use has slowed significantly in the past few months. Oil prices rose after US President Donald Trump said he would make an announcement regarding Russia, raising the possibility of imposing more sanctions on the oil-producing country. Brent crude futures rose 19 cents to reach $69.10, and US intermediate crude futures rose 24 cents to reach $67.08 per barrel.