Oil will remain the largest source of energy for at least the next two decades. This will be driven by a number of factors, including the relatively slow transition of global energy to renewable sources. informs American television channel CNBC with reference to industry market participants.
Oil will continue to be the world’s largest source of energy by 2050, said Erin McGrath, senior adviser to oil company ExxonMobil. By then, global demand for liquid hydrocarbons will increase by about 15 million barrels per day.
“Even if demand growth slows after 2025, it is predicted that liquids will continue to be the world’s leading energy source in 2050. <…> Almost all of the growth will come from emerging markets in Asia, Africa, the Middle East and Latin America.
June 27, Organization of Petroleum Exporting Countries (OPEC) Secretary General Haytham al-Ghais declarationGlobal oil demand could rise to 110 million barrels per day by 2045. At the same time, the total demand for energy carriers will increase by 23% by this date.
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