Global oil demand could rise to 110 million barrels per day by 2045, and overall energy demand will increase by 23% by that date. This was expressed by OPEC Secretary General Haytham al-Ghais, transmits CNBC.
“Oil is irreplaceable for the foreseeable future. “By our estimation, we see global oil demand rising to 110 million barrels per day by 2045,” Haytham al-Ghais said at the opening of the Asian Energy Conference in Kuala Lumpur, Malaysia.
According to him, the share of oil in the global energy balance will be at the level of 29 percent by 2045. At the same time, the lack of financing for the oil and gas industry can jeopardize the security of energy systems and lead to global energy chaos.
He added that renewable energy sources will play a major role in the world’s energy balance in the future. At the same time, some OPEC countries have already started to invest a lot of money in this direction.
Fatih Birol, former head of the International Energy Agency (IEA) declarationthat in the foreseeable future, India will outrank China in terms of oil consumption. New Delhi will be the world’s largest demand growth driver for such raw materials. The change of global leaders in terms of oil consumption will take place over the next four years – by 2027.