Mohammed Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) noted over the weekend, published by Reuters on Tuesday, India ´s demand for oil is expected to witness the fastest growth by 2040.
Key Quotes:
“India is projected to see the largest additional oil demand (3.7 percent per annum) and the fastest growth in the period to 2040.”
He added that the global oil sector needed $11 trillion in investment to meet future demand by 2040.
“Our view is that the market is currently adequately supplied and well balanced. For 2019, there is the potential for an imbalance, due to larger growth in supply.”
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