Austria: Global energy demand to grow 35% by 2040 — OPEC's SecGen

The 2017 OPEC World Oil Outlook was presented at the OPEC Secretariat in Vienna on Tuesday, forecasting a growth in global energy demand by 2040. OPEC Secretary General Mohammed Barkindo stated that the market had «undergone significant and fundamental changes» and rebalancing had gained momentum over the past year, largely due to the OPEC and non-OPEC production cut deal signed in November 2016... Еще. Presenting OPEC's energy outlook figures, Barkindo said: «from the perspective of the future energy mix, energy demand is set to increase by 35 percent in the period to 2040.» «Oil is anticipated to remain the fuel with the largest share by 2040, and oil and gas combined are still estimated to account for 52 percent of the energy needs by the end of the focus period, similar to current levels,» he added. «Global oil demand is expected to pass for the first time in history [the] 100 million barrels a day mark in 2020. And to reach over 111 million barrels a day by 2040, with growth every year of the forecast period,» he added, stressing: «There is therefore no peak oil demand for the forseeable future.» On November 30, OPEC will hold its 173rd ordinary meeting in Vienna, at which the member states of the organisation are expected to discuss a plan to extend production cuts through 2018.

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