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Russia expects global oil demand to rise to 104.6 mln bpd in 2025 — Novak

According to OPEC forecasts, global oil demand in 2025 could increase by 1.3 mln barrels per day, to 105.14 mln barrels per day

BEIJING, November 25. /TASS/. Russia sees global oil demand increasing, and in 2025 it is expected to reach 104.6 mln barrels per day, Russian Deputy Prime Minister Alexander Novak said at the 7th Russia-China Energy Business Forum in Beijing.

"We are also seeing rising demand for oil. Last year it amounted to roughly 1.3 mln barrels per day. In 2025, further growth is expected – up to 104.6 mln barrels per day," he said.

According to OPEC forecasts, global oil demand in 2025 could increase by 1.3 mln barrels per day, to 105.14 mln barrels per day.

Novak also noted that global electricity demand is growing at a faster pace.

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Alexander Novak

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