10/15, 8:29 AM (Source: TeleTrader)
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Barkindo: Oil demand to jump to 112 mb/d in 2040

Global oil demand will likely increase to 112 million barrels per day (mb/d) in 2040, Organization of the Petroleum Exporting Countries (OPEC) Secretary-General Mohammed Barkindo said on Tuesday.

According to the latest OPEC's monthly report, world oil demand was foreseen at 99.8 mb/d while an increase to 100.88 mb/d is expected in 2020.

Earlier, the secretary-general noted that OPEC and OPEC+ producers could still consider a further production cut this year, but Russian officials noted there was no reason to change the current arrangement at the moment. Current producer output cuts are set to expire in March 2020.

Breaking the News / VP