The Secretary-General of OPEC From Baghdad: The Repercussions Of Coronavirus Continue To Affect The Energy Market In Asia

Baghdad / NINA / - The Secretary-General of the Organization of Petroleum Exporting Countries "OPEC", Muhammad Barkindo, revealed that the repercussions of the Coronavirus continue to affect the energy market, especially in Asian countries, where the environment of energy consumption has changed. Barkindo said during his speech at the Energy Forum held at the American University in Baghdad: "This meeting comes during difficult periods in this sector, as the world is experiencing the repercussions of Coronavirus, in addition to the supply interruption due to the Ukraine war." He added, "We have to prepare at the long-term level for any challenges such as high inflation, weakness in the supply chain and the economic downturn in the European Central Bank as well as the Japanese,". He continued, "There will be an increase in energy from 224 million to 300 million barrels in 2024, and there is no energy source that can cover this demand." Finance Minister Ali Allawi called, during the Energy Forum, to move from exporting oil to electric power, noting that there is a great opportunity for Iraq to become the largest producer of electric energy./ End