Middle East investment crucial
Issue 983
- 11 Dec 2014
| 1 minute read
Global oil demand growth is expected to slow to 0.3% in the 2030s before consumption reaches a plateau in 2040, but meeting demand still “hinges critically on investments in the Middle East”, according to the International Energy Agency (IEA)’s World Economic Outlook (WEO) 2014. Despite a flatlining of Organisation for Economic Co-operation and Development (OECD) energy demand from 2014 and a more pronounced slowdown of Chinese demand growth after 2020, global oil demand is expected to increase by 14m b/d to 104m b/d by 2014, driven by increased growth in the Middle East, India, South-East Asia, Africa and Latin America.
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