Energy Secretary says oil prices have not hit demand peak
US Energy Secretary Chris Wright told the CERAWeek conference that oil prices have not yet caused demand destruction. Brent futures trade above 100 dollars.
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The United States Energy Secretary Chris Wright stated on Monday that global crude markets have not yet seen a significant reduction in consumption despite rising costs. Speaking at the CERAWeek energy conference in Houston, Texas, Wright provided an assessment of the market amidst ongoing geopolitical instability.
Global oil prices have not climbed enough to cause demand destruction.
