Russia Expects Strong Global Oil Demand Growth Through to 2050

Russia expects global oil demand to grow by at least 5% from current levels to 2050, with demand growth of up to 7 million barrels per day (bpd) by 2030, Russia’s First Deputy Energy Minister Pavel Sorokin said on Thursday. Russia is ready to provide additional crude volumes when needed, Sorokin said on the sidelines of an energy forum in Russia. By 2030, global oil consumption is set to rise by between 5 million bpd and 7 million bpd, or 4.5% to 5.5% higher compared to today’s demand, according to the Russian official. Russia aims…