Astana: Experts of the Organization of Petroleum Exporting Countries examined on Thursday forecast developments in the oil sector in the foreseeable future at Kazakhstan Energy Week held in Astana.
According to Kuwait News Agency, excerpts of the examined report, published by OPEC today, indicate that global energy demand is expected to grow by 23 percent by 2050, with oil maintaining its predominant role in the global energy sector at a forecast proportion of 30 percent.
The demand is projected to reach 123 million barrels per day by the onset of the middle of the current century. The analysis considers recent developments in the oil and economic sectors, including significant changes in energy policies, as decision-makers strive to balance energy security, cost management, and emissions control.
OPEC has been publishing global projections annually since 2007.