News Formal

Oil market: We need $14trn investment to meet global demand —Al Ghais

  • 📰 vanguardngrnews
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

THE Secretary General, Organisation of Petroleum Exporting Countries, OPEC, Haitham Al Ghais, yesterday, said the world needed to invest $14 trillion between 2023 and 2045 to meet global demand.

In his article – Why OPEC has increased its long-term oil demand outlook in the World Oil Outlook, WOO 2023 – obtained by Vanguard, the secretary general who noted the continued rise in global demand, stated: “In the WOO 2023, investment requirements out to 2045 total $14 trillion, or around $610 billion on average per year.

This past year has seen the OPEC Secretariat research team take on board a variety of energy policy shifts, reassessments of the speed and nature of energy transitions, as well as developments in the economic landscape, to revise up the long-term oil demand outlook in our World Oil Outlook, WOO, 2023 to 116 million barrels a day by 2045.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FG tasks oil experts on solutions to local industry challengesA Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
Source: vanguardngrnews - 🏆 5. / 75 Read more »