OPEC Secretary General: We Expect Global Energy Demand to Rise by 23%

OPEC Secretary General Haitham Al Ghais confirmed during an oil and gas conference in Nigeria that "global energy demand is expected to rise by 23% by 2045." He added, "The global oil sector needs an investment of 12.1 trillion dollars during the same period, but it is not on track to reach this level of investment." He described calls to prevent financing for new oil projects as lacking wisdom and realism, stating that the world needs all forms of energy to meet global demand. Al Ghais said, "We will need innovative solutions such as carbon capture and storage, hydrogen projects, as well as a circular carbon economy, which has received positive support from the G20."