8/3, 11:34 AM (Source: TeleTrader)
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OPEC: Oil demand to recover at slower rate

OPEC Secretary General Haitham al-Ghais said Wednesday he expects oil demand to continue to recover, although at a slower rate.

Al-Ghais told Algerina TV that the demand increase would be slower compared to the first part of this year and the last year. He further added that US supply problems would likely affect global supply and demand.

He also took the opportunity to express his "sincere thanks and great gratitude to the UAE" for supporting his candidacy. Kuwaiti oil executive Haitham al-Ghais officially started as secretary general last Monday after being elected in January.

Baha Breaking News (BBN) / JG