MOSCOW, December 25. /TASS/. Global oil consumption could increase by up to 15-20 mln barrels per day (mbd) by 2050, Deputy Prime Minister Alexander Novak said.

"Experts estimate that by 2050, that is within 25 years, the increase will be between 15 and 20 mbd. Currently, over the past two years, we have seen consumption growth of over 1 mbd annually," he said in an interview with the Rossiya-24 TV channel.

Investments and joint work of countries to provide the market are necessary due to such growth in oil consumption as this is related to energy security, Novak added.