Crude oil demand will continue growing over the coming decades as the world’s population increases, the secretary-general of OPEC, Haitham Al Ghais, said this week, predicting a 24% cumulative rise in this demand until 2050. “There is no peak in oil demand on the horizon,” Al Ghais said at the Canadian Global Energy Show, as quoted by Reuters. The top OPEC official went on to reiterate a warning about the adverse potential consequences of underinvestment in new oil and gas supply—something, in which OPEC has been very consistent…
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