Today, in an era of often contradictory and polarizing energy discourse, the ASB’s enduring appeal is testament to the fact that maintaining market stability and energy security requires policymaking leaning on concrete and reliable data, which the ASB has in abundance. In this regard, we believe that data has a vital role to play in cutting through the noise and helping dispel ambiguity.

In 2023, for example, global oil demand expanded, year-on-year, by 2.6 million barrels of oil a day (mb/d) to reach an average of 102.2 mb/d. In addition, demand grew in almost every region, with the non-OECD leading the way.

Immediately, one can see from the data that calls to avoid investing in new oil projects do not reflect realities worldwide. Instead, data-driven analysis points to the fact that oil demand continues to grow, and we believe it will continue to do so long into the future.

Perhaps when reviewing the ASB’s wealth of data – which is grouped by geographic region and encompasses all major economic zones of the world – take a moment to also recognize the 70 million jobs supported by the global oil industry that underpin this data. Moreover, they also rely on data-driven publications such as the ASB to help support and push the industry forward, as the world looks to use reliable and accurate data to enable sustainable future energy pathways for all.

For their crucial work in compiling this 59^th edition of the ASB, I would like to express my sincere thanks to the many statisticians, analysts and researchers at the OPEC Secretariat and in OPEC Member Countries for their dedication, collaboration and hard work. The quality of this flagship publication and its contribution to the maintenance of market stability and global energy security at a time of great uncertainty is a tremendous achievement. It is one we are all proud of.

Haitham Al Ghais
OPEC Secretary General