This year’s publication sees that the world will require more energy in the decades to come, with global energy demand set to be expand by 23% to 2050. Global oil demand is set for continued robust growth, reaching almost 123 mb/d by 2050. The analysis and key findings take on board recent energy and economic-related developments, particularly the substantial shifts in energy policy as decision-makers address the challenges of energy security, energy affordability and the need to reduce emissions.

The publication also underlines the need for all energies to address future energy needs, the significance of ensuring that necessary investments are made, which is linked to providing the right enabling environment, and the importance of bringing modern energy services to billions that continue to go without.

OPEC Secretary General, HE Haitham Al Ghais, said that the world requires more energy in the decades to come, and “for this to be available in a secure, stable and realistic manner that the world will continue to need all energies”.

HE Al Ghais also highlighted that the world will continue to need all energies. “It is also a future in which we need to embrace all technologies, to drive innovation and efficiencies, and ensure that all peoples are taken into account, particularly given that it is the non-OECD developing world that will drive future energy growth”.