Doris Leblond
OGJ Correspondent
PARIS, Apr. 12 -- Oil exporters worry as much about demand security as consuming nations do about security of supply.
Representatives of the Organization of Petroleum Exporting Countries made that concern clear at the Seventh International Oil Summit in Paris earlier this month.
OPEC Sec. Gen. Edmund M. Daukoru, Nigeria's petroleum minister, warned of the potentially destabilizing risks of investing too much or too little in production capacity.
"This is why we have been calling for a 'road map' for oil demand, to reflect the need for security of demand as a legitimate concern for producers," he said. "Security of supply and security of demand must go hand in hand. They are the two faces of the energy security coin."
Mohammed Barkindo, acting for the OPEC secretary-general, said the group's long-term strategy projects a difference of more than 12 million b/d between the highest and lowest forecasts for global oil demand in 2020.
