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President of the Chinese oil trader Unipec, Chen Bo, believes that the demand for primary energy resources will reach its peak of 17 billion tons of oil equivalent in 2035. He said this at an industry conference in Singapore, Bloomberg writes. According to Chen Bo, in 2035 the demand will grow by 0.4%, slowing down compared to the rise of 1.8% a year now. He expects that the share of oil in world energy consumption in 2035 will drop to 25% from the current 33%. Demand for oil in 2035 will reach a peak of 104 million 400 thousand barrels per day. Unipec predicts an end to the growth of oil refining and petrochemical industries after 2035, as new materials will be used in the world.
KYC Policy