Al-Naimi: Oil industry needs better data to plan growth

The oil industry’s lack of knowledge about current world demand for crude and its subsequent growth “is probably the weakest link in our efforts to understand the future,” said Ali I. al-Naimi, Saudi Arabia’s oil minister, in his opening address to the Cambridge Energy Research Associates annual energy conference Feb. 7 in Houston.“The root of the problem is the inadequacy of existing data collection and analysis in much of the world,” he said. “Good data is crucial for developing a baseline for projecting the future. In addition, our ability to know and predict the drivers of oil demand growth in many countries is weak at best.”Oil is set t...

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