US EditionOil Demand to Hold Above 100 Million Bpd Through 2040, Says ADNOC CEO
ADNOC CEO Sultan Al Jaber highlights $4 trillion annual investment need as AI, data centers, and emerging markets drive oil and LNG demand above 100 million barrels daily.
- On Tuesday, Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Abu Dhabi National Oil Company , said oil demand will stay above 100 million barrels per day through 2040, urging investment in all forms of energy.
- AI, data centers and emerging markets are driving sharp rises in electricity and LNG demand, which is expected to surge by 50% or more.
- Calling underinvestment the biggest risk, Al Jaber noted that at the end of last year, ADNOC warned that insufficient investment, estimated at $4 trillion annually, poses a greater threat than oversupply.
- India has locked in a 10-year LNG supply deal with ADNOC valued at $3 billion, marking one of the largest agreements for the energy importer.
- Large oil producers have long warned supply investment must rise to meet growing demand, and all these trends converge in India as a growing global energy hub influencing longer-term market and policy implications.
12 Articles
12 Articles
Oil demand to hold above 100 million bpd through 2040, says ADNOC CEO
The head of Abu Dhabi National Oil Company (ADNOC) said global oil demand will remain above 100 million barrels per day through 2040, while demand for both liquefied natural gas (LNG) and electricity will grow by 50% or more.
Oil demand to stay above 100m bpd through 2040, says Dr Al Jaber
Global oil demand is projected to remain above 100 million barrels per day through 2040, driven by emerging markets and technological advancements, according to Dr Sultan Al Jaber. He emphasizes the need for sustained investment across all energy forms to meet growing demands, particularly in India, the world's third-largest energy consumer.
ADNOC Expects Oil Demand to Stay Above 100 Million Barrels a Day Through 2040
Oil demand will stay above 100 million barrels per day (bpd) through 2040, the chief executive of Abu Dhabi National Oil Company (ADNOC) said on Tuesday, reiterating the need for investment in all forms of energy. Global oil demand will remain above 100 million barrels per day through 2040, with demand for both LNG and electricity surging by 50% or more. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Managing Director and…
Times of India
The Economic TimesIndia a key driver of global energy demand: UAE minister
India's booming economy is set to significantly boost global energy consumption. This growth spans air travel, data centers, and digital infrastructure. The UAE is highlighted as a crucial partner, supplying oil, LNG, and LPG. Both nations aim to double bilateral trade by 2032, underscoring a shared ambition in meeting India's escalating energy needs.
Oil demand to hold through to 2040, says Adnoc CEO
The head of Abu Dhabi National Oil Company said global oil demand will remain above 100 million barrels per day through to 2040, while demand for both liquefied natural gas and electricity will grow by 50 percent or more. Adnoc CEO Sultan Ahmed Al Jaber told the India Energy Week conference on Tuesday that electricity demand will be driven by the need to power cooling systems as well as AI infrastructure and data centres. “Demand at this scale a…
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