Opec: Oil demand to hit 111m barrels by 2040 despite climate change
▻http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/11213302/Opec-Oil-demand-to-hit-111m-barrels-by-2040-despite-climate-change.html
Oil prices will average $177 per barrel by 2040 and the world will need to find an additional 21m barrels per day (bpd) of crude over the next 25 years to meet demand from rising global populations and rapid economic growth in Asia, the Organization of Petroleum Exporting Countries (Opec) has said in its latest World Oil Outlook.
[...] Although the figure is a slight downward revision from its previous report it highlights the continued dominant role that oil continues to play in the global energy mix despite warnings from the United Nations that urgent action is required to avoid a climate change catastrophe. According to Opec, Asia accounts for 71pc of demand growth in the developing world, with total global energy demand forecast to increase by 60pc through to 2040.