MOSCOW, October 3. /TASS/. Global oil demand will increase by 9-10% by 2036 due to growing motorization in developing countries, which will require investment in oil production, Russian Deputy Prime Minister Alexander Novak wrote in his column for the Energy Policy magazine.

"Global oil demand will increase by 9-10% by 2036 due to growing motorization in developing countries. This trend requires a significant increase in investment in global production, which has been declining in recent years amid the "green" agenda," Novak noted.

He stressed that the key potential for increasing oil production lies with the OPEC+ agreement participants, so the deal will continue to play a decisive role in stabilizing the global market.

"The OPEC+ agreement allows us to ensure a fair price for oil. However, over the entire period of its validity, the deal has already brought in more than 30 trillion rubles ($317 bln) in additional revenues to the federal budget of Russia," the Deputy Prime Minister specified.