OPEC Raises expectations for Oil demand next year

Hardide Plc

DirectorsTalk caught up with Phil Kirkham, CEO of Hardide plc (LON:HDD) on the report in The Daily Telegraph on 11 October 2017 that Opec has raised its expectations for global oil demand next year. Phil said that this was good news for Hardide plc which develops and produces nano-structured coatings for high performance tools operating in this sector.

“Growth in global demand for oil and a rise in the oil price has direct influence on demand for Hardide product,” said Phil. “We provide advanced coatings for drilling tools and parts working in other technologies that are key to cost-effective and efficient oil and gas exploration and production. When global oil demand increases, our customers get busier and are motivated to look for solutions such as our coatings that optimise the performance of their tools. We see a corresponding rise in our business, albeit with a time-lag, when demand for oil and the price rises.”

You can read the full article here: http://www.telegraph.co.uk/business/2017/10/11/opec-banks-higher-demand-2018-rebalance-oil-market/

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