“OPEC”: Oil remains the number one source of energy for decades


The Organization of the Petroleum Exporting Countries (OPEC) has reminded that crude oil will remain the main source of energy for decades, especially in light of the less wealthy countries in the world seeking to achieve higher living standards and growth, at a time when the countries of the world are preparing to hold another climate summit in Glasgow next month.

OPEC noted that the presence of more electric cars on the roads, along with pressures to provide alternative and renewable energy, are all factors that will lead to an era of diminishing demand for oil in rich countries.

In addition, “OPEC” said in its annual report on the prospects of world oil that the energy needs of the expanding economies in other parts of the world still affirm that oil is the number one source of energy until 2045.

The report comes in light of a sharp rise in oil and natural gas prices. The price of Brent crude reached more than $80 a barrel on Tuesday, its highest level in three years, while the US oil benchmark rose to $75.92, also its highest level in three years.





These were the details of the news “OPEC”: Oil remains the number one source of energy for decades for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Al Mutlaq Group eyes further collaboration with TRSP

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]