All news
5 Dec 2024, 08:30

Rosneft chief executive expects global oil demand to continue growing

"We see that the sector overall projects stable growth of oil consumption," Igor Sechin noted

RAS AL-KHAIMAH, December 5. /TASS/. Oil producers globally project stable growth of oil consumption that may reach up to 20 mln barrels per day by 2050, Chief Executive Officer of Rosneft Igor Sechin said.

"More long-term forecasts vary enormously depending on how biased those who make them are. We see that the sector overall projects stable growth of oil consumption, which may reach up to 20 mln barrels per year by 2050," he said at the Verona Eurasian Economic Forum.

The expected growth of oil demand makes investments in crude production particularly important, Sechin noted.