The Saudi Energy Minister expects a demand of 600,000 barrels per day in the event of a transition from gas to oil

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Riyadh – Mubasher: Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz said today, Wednesday, that users who switch from gas to oil could represent a demand of between 500,000 and 600,000 barrels per day. Depending on winter weather and related energy prices.

Prince Abdulaziz added that the rise in energy prices now is due to limited investment in hydrocarbons, low stocks and a recovery in demand after the Corona pandemic, according to Reuters.

Prince Abdulaziz considered that low investment in hydrocarbons affects oil prices, stressing that Saudi Arabia has always been a source of stability in the oil market..

The Saudi Energy Minister stressed that the world needs to seriously take care of securing supplies, stressing that the world will continue to need fossil fuels and that gasoline and gas stocks are low..

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