The Abu Dhabi National Oil Company (ADNOC) sees a robust return of oil demand, mainly from China, ADNOC Group’s chief executive Dr. Sultan Ahmed Al Jaber told IHS Markit Vice Chairman Daniel Yergin in a recent interview . The oil market has visibly tightened over the past two months as economies started to reopen, said Al Jaber, who is also the UAE’s Minister of Industry and Advanced Technology. “The approach of OPEC and its leadership also helped build confidence in the markets. And as a result, we are seeing a robust return of oil demand. This is mainly coming from China. Having said that, our industry will have to remain cautious and nimble,” ADNOC’s top executive said. The oil and gas industry, however, needs to be “cautiously optimistic” about the structural macroeconomic changes and has to continue focusing on cost management, Al Jaber told IHS Markit. ADNOC produces most […]