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Saint Petersburg International Economic Forum 2014

Global demand for oil will continue to grow due to developing countries — Rosneft CEO

By 2030, the growth in demand in this group of countries should collectively reach 95% of the global increase in consumption

ST. PETERSBURG, June 8. /TASS/. Global oil demand continues to grow and developing countries will be the main drivers of oil consumption for the next decades, Rosneft CEO Igor Sechin said at the St. Petersburg International Economic Forum.

"Developing countries will be the main drivers of oil consumption in the coming decades. By 2030, the growth in demand in this group of countries should collectively reach 95% of the global increase in consumption," he said.

The greatest increase in oil demand is expected in Asian countries, which are Russia's main trading partners, Sechin added. At the same time, he added that thanks to the early refocus of energy exports to the East, Russia managed to maintain its role as one of the leaders in global energy.

The St. Petersburg International Economic Forum (SPIEF) is held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.

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