The Secretary General of the Organisation of the Petroleum Exporting Countries(OPEC), Haitham Al Ghais, has said Africa is repositioning itself in global oil markets, not just as a supplier but also as a rapidly growing consumer.
Speaking at the 2025 Africa Energy Week (AEW), Al Ghais declared: “With half of its members coming from Africa, OPEC has the pleasure and honour of having members from Algeria, Congo, Equatorial Guinea, Gabon, Libya, and Nigeria.”
He noted the continent’s rising importance, stating: “Today, ladies and gentlemen, Africa is repositioning itself in many ways on the global oil markets. This applies not just to the supply side, but also as an energy consumer with a rapidly growing population and an expanding industrial base.”
Citing OPEC’s most recent World Oil Outlook, Al Ghais explained that African crude demand is expected to surge. “The continent’s crude consumption rises from 1.8 million barrels a day in 2024 to reach 4.5 million barrels a day by 2050,” he said.
At the same time, supply trends will shift. “It’s also set to remain a significant supplier of crude and condensate exports, although we see the levels dropping from 5.2 million barrels a day to 4.2 by 2050, given the rapidly rising domestic use,” Al Ghais added.
He stated that Africa’s refining capacity and local resource development would underpin this transformation. “This growth is set to be supported by an expansion in the refining base, the refining industry, as well as the development of local reserves within the continent,” he said.
Looking ahead, Al Ghais stressed Africa’s global potential: “Africa has also the potential to be a main player in the future of energy, with oil and natural gas playing a leading role.”
