In a recent statement, Ayed Al-Qahtani, director of the research division at OPEC, emphasized the staggering investment required to meet future global oil demand projections. According to Al-Qahtani, the energy sector needs an estimated $14 trillion in investments to match the expected demand of 116 million barrels per day by 2045. This translates to an average annual investment of $610 billion, highlighting the immense financial commitment necessary to sustain oil production and ensure supply security.
Al-Qahtani’s remarks were made during the 10th joint workshop organized by OPEC, the International Energy Forum, and the International Energy Agency in Vienna. He emphasized the critical importance of prioritizing industry investment to avoid supply disruptions and market volatility. Meanwhile, Christof van Agt Ross, director of the IEF’s Energy Dialogue, stressed the need for ongoing analysis to maintain stability in global energy markets amidst rapid changes. These insights underscore the challenges facing the energy sector as it navigates the transition to meet future demand while addressing environmental concerns.