OPEC estimates that global investment in oil will be USD 12.1 trillion by 2045

Inspenet, February 10, 2023

The global oil sector will need a cumulative investment of $12.1 trillion by 2045, said Ayed Al-Qahtani, director of OPEC’s Research Division.

During his presentation on the World Oil Outlook, in the framework of the event “India Energy Week” 2023, the official of the Organization of the Petroleum Exporting Countries (OPEC) stressed that all forms of energy will be required in the future and estimated that oil will still have a large share of the global energy mix by 2024.

“All forms of energy are needed in the future to meet future energy needs and oil will retain the largest share in the energy mix by 2045,” he said.

In this sense, he affirmed that the oil sector will need a cumulative investment of 12.1 billion dollars towards that same year. Of that amount, he added, 9.5 thousand trillion will be for the upstream segment.

Al-Qahtani stressed that increased global cooperation could enable a more coherent and balanced approach to achieving the interrelated Sustainable Development Goals (SDGs), referring to the United Nations 2030 Agenda for Sustainable Development.

The India Energy Week was held this week in the city of Bangaluru and represents the first major event organized by the Asian country in its capacity as president of the G20.

Source : https://energiaadebate.com/a-2045-inversion-global-en-petroleo-sera-de-us-12-1-mil-bn-opep/

Photo : @OPECSecretariat on Twitter

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