Bid & Tender
Oil Consumption to Grow in Next 15-20 Years – Russian Energy Minister

Date : Nov 08, 2017

The world economy will increase oil consumption by slightly less than 1 per cent within the next 15-20 years, said a senior Russian government official.

 

"Oil consumption will grow in the next couple of decades, but at a slower rate than economic growth - slightly less than 1 per cent in the next 15-20 years," said Energy Minister Alexander Novak.

 

Earlier Novak said that the world demand for oil in 2017 is growing faster than expected - already surpassing 1.4 million barrels from last year.