Andreas Kleinschmidt interviews the Head of Research at the Organization of Petroleum Exporting Countries (OPEC), Dr. Omar Abdul-Hamid, on the future of oil and gas over the next 20 years. Abdul-Hamid commented that the ‘end of oil is near’ speculation has been “exaggerated” and that there is enough to “support the needs of demand”.
“Moving forward to the long-term, by 2040 we continue to anticipate 111 million barrels of oil demanded per day,” he added.
Commenting on the availability of alternative fuels, Abdul-Hamid said: “Oil will continue to be, at least in our forecast, a dominant source of energy, specifically, in transportation because there is continuous investment into the combustion engine.”
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