The most popular OPEC's market share of fossil fue

2022-07-24
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OPEC: the market share of fossil fuels will fall below 80% in the next three years. Mohammad barkindo, Secretary General of OPEC, said in Kuwait on Sunday that by 2020, the proportion of fossil fuels in the global energy structure will fall to 80%, which can be seen from oil spills and other exports. By 2040, this proportion will further fall to 75.4%

barkindo's speech is a "Preview" version of the world oil outlook 2017 to be released by OPEC in November

"wind energy, solar energy, geothermal energy and photovoltaic energy will be the fastest growing energy, with an average annual growth rate of 6.8%," referring to the proportion of these energy sources in the global energy structure in the future, barkindo said that by 2040, the proportion of these energy sources will still be less than 5.5%

crude oil supply and demand sides range from 1.01 to 1.20. Barkindo believes that by 2022, crude oil demand will climb to 1.2 million barrels per day, and by, this figure will drop to 300000 barrels per day. "In the medium term, by 2022, the oil demand will increase significantly, and the average annual growth rate will also be 'healthy'. Although the share will decline in 2040, fossil fuels will still maintain the dominant position in the monetization of global energy structure through production capacity."

barkindo said that with the global economic growth and the crude oil demand may increase to 1.45 million barrels per day this year, the crude oil market indicators are "rapidly improving". Crude oil stocks in developed countries reached 3% at the beginning of the year. In fact, the partial fracture of metal wires does not mean that all components will eventually fail 3.8 billion barrels, higher than the five-year average. In August, the inventory fell to 159.338 million barrels

the crude oil inventory of floating storage in the world is also declining. Barkindo pointed out that this inventory has decreased by almost 40million barrels since this year

Wall Street has previously mentioned that in the monthly report released last week, OPEC raised its forecast for global economic growth this year from 3.5% to 3.6%; The economic growth rate next year will be raised from 3.4% to 3.5%. This year, the growth of the global economy will drive the demand for 1.5 million barrels of crude oil per day, and next year, it will drive 1.4 million barrels per day

opec estimates that the crude oil production capacity in 2018 will be 33.1 million barrels per day, 350000 barrels higher than that in September, and 200000 barrels higher than the OPEC forecast last month. Global crude oil demand is expected to increase by 130000 barrels per day

in November this year, OPEC will hold a meeting in Vienna to discuss whether to extend the production reduction period

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