MOSCOW (Sputnik) – World demand for oil in 2015 may grow by 1.2 to 1.3 million barrels per day and by 2020 demand will grow between 7 and 11 percent, Russian Energy Minister Alexander Novak said Thursday.
“We believe that oil as a whole will remain one of the main energy resources, though the increase in consumption will be slower than the growth in the world economy as a whole…According to our assessments, the demand for oil will grow from 7 to 11 percent up to 2020, and by 2040 will increase by 15 to 20 percent,” Novak said after a Russia-OPEC meeting in Moscow.
