CALGARY: Oil demand growth will remain robust over the next two and a half decades as the world population grows, OPEC Secretary General Haitham Al-Ghais has said.
The organization expects a 24 percent increase in the world’s energy needs between now and 2050, with oil demand surpassing 120 million barrels per day over that time period.
That estimate is in line with the group’s 2024 World Oil Outlook.
“There is no peak in oil demand on the horizon,” Al-Ghais said, speaking at the Global Energy Show in Calgary, Alberta.
He said that OPEC admired what Canada’s oil industry has done to increase its oil output in recent years.
