Abu Dhabi: Oil Demand To Rise

oil

According to industry forecasts, global oil demand will increase by at least 10 million barrels per day by 2040, while natural gas demand is set to grow by 40 percent and petrochemicals by 60 percent.

Oil, gas and petrochemical projects valued at more than $859 billion (BD 323,855,885,000.apx) are either underway or planned in the MENA (Middle East and North Africa) region.

Of these, $283 billion worth of projects is being implemented as the region gets ready to meet the forecast increases in demand for energy over the next two decades.

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