Kuwait Petroleum expects the recovery of oil demand in the coming years
November 19, 2015 0
Chief Executive Officer of Kuwait Petroleum Corporation Nizar Al-Adsani government said on Thursday that crude oil demand will improve in the end he said, adding that he expects China's growth recovery in the next few years.
Adsani said during a petrochemical conference in Dubai, "demand will rebound and will stabilize the supply in the light of the lack of investment and then you'll find support prices."
He added that he expects continued price volatility in the coming years, but the important thing is how quickly the US shale oil production in response to higher prices.
"The important question is how it will be affected by shale production."
Adsani also said he expects continued competition between the producers of the Organization of Petroleum Exporting Countries (OPEC) and independent producers.
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