Exxon: Caspian Region, Russia, Brazil to remain key oil suppliers by 2030

World

According to the forecasts of largest American oil company ExxonMobil, overall growth in the global energy demand will average 1.3% per year to 2030.

The growth will be caused by the increasing energy production and the demand for transportation. Fossil fuels will continue to provide close to 80% of energy supplies over the outlook, with oil and gas accounting for close to 60%, ExxonMobil’s report placed on its official site says.

“Oil demand is expected to increase at 1.2% per year till 2030, and gas will be the fastest-growing large fuel source. The demand for coal will increase significantly as well, driven by the rise in electricity demand in various developing countries. Nuclear will expand rapidly, primarily after 2020,” the report says.

According to ExxonMobil, the most prominent source of supply today is non-OPEC crude oil and condensate gas. Over the outlook period, supplies will come from the areas of their growth – for example, Russia, the Caspian region and Brazil. OPEC crude supply is expected to rise from about 30 million barrel a day today to about 45 to 50 million barrel a day by 2030. (Trend Capital)

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