OPEC Secretary General Mohammad Barkindo said on Thursday that the oil market rebalancing in the accelerated, foreseeable future demand for crude oil without a cap.
At the Oil & Money conference in London, he said the global economic recovery would drive oil prices.
He told attendees: 'We expect global crude oil demand to exceed 100 million barrels a day by 2020'.
OPEC's demand for crude oil this year is estimated at 96.8 million barrels per day, apparently at a distance of 100 million.
But Barkindo warned that the continued investment in the oil industry is critical.
At the same time, he also stressed that OPEC and Russia and other non-OPEC oil-producing countries will continue to strengthen the relationship.
Barkindo said that after three years of bear market after the crude oil in the 'dark tunnel exit', need to ensure that the process of market re-balance is full and orderly.