UAE Energy Minister Suhail Mazrouei expects global oil demand to grow by 1.2-1.5 million barrels per day in 2020
ABU DHABI (Pakistan Point News / Sputnik - 11th November, 2019) UAE Energy Minister Suhail Mazrouei expects global oil demand to grow by 1.2-1.5 million barrels per day in 2020.
"I think whether it's 1.5 million or 1.2 million, there is a growth. And that growth is reasonable because the population is growing, the number of people who are moving from poverty to the middle class is increasing, and major countries like China and India are increasing consumption," Mazrouei said on Monday at the opening ceremony of the Abu Dhabi International Exhibition & Conference.
The United Arab Emirates aspires to make its energy production cleaner and cut its carbon dioxide emissions, the minister stressed.
"I think we are committed to produce but we are committed to produce wisely in a cleaner way; we are responsible as well to combine it with other forms of energy to reduce CO2 emissions by 70 percent by 2050. That's our goal. We will need more gas, we will need more crude; the percentage is going to be lower but the absolute numbers are going to be higher," Mazrouei said.
The International Energy Agency expects the global oil demand growth to reach 1 million barrels daily in 2019 and 1.2 million barrels daily in 2020, according to its October report.
