OPEC: Hydrocarbons will keep their leadership in the global energy market
In their forecast until 2040, OPEC experts believe that oil and gas resources will remain their dominant position in meeting the energy needs of the world economy, and by the end of the forecast period they will be 52% of the world energy balance. By this time, the daily oil demand in the world will increase by 16.5% and will exceed 111 million barrels. The main consumers of fuel will be the Chinese and Indian economies. At the same time, experts believe that the growth in oil consumption will start to decrease after 2035 due to increased fuel efficiency, a more stringent global energy policy, and a decline in global economic and demographic growth. Natural gas, according to experts, will increase its importance in the market of primary energy resources and will come out on the second place, displacing coal to the third. The sphere of renewable energy sources will develop most rapidly. Their importance in the global energy balance by 2040 will increase to 5.4% in comparison with 1,4% now.
