Monday, June 26, 2023

OPEC expects global oil demand to rise to 110 million barrels per day by 2045

 Reported here.

2022 global production averaged 80.6 million barrels per day on one accounting.

OPEC must think the 2022 figure closer to 90 million bpd since it projects growth in demand of 23%.

According to this, crude oil remained the top primary energy source in the world at 31.2% in 2020, followed by coal at 27.2%, and natural gas at 24.7%.

71% of China's primary energy is derived from coal. China is the world's number one emitter of so-called greenhouse gases.