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Reuters reported that according to the U.S. Government, global petroleum use is expected to rise over the next two decades than previously estimated.
Reuters reported that according to the U.S. Government, global petroleum use is expected to rise over the next two decades than previously estimated.
The market news is quoted as saying:
World oil demand is expected to climb to 112.2 million barrels per day in 2035, up 1.4 percent from a previous estimate, the U.S. Energy Information Administration said in its annual international energy outlook.
“Most of the growth in liquids use is in the transportation sector, where, in the absence of significant technological advances, liquids continue to provide much of the energy consumed,” the EIA said.