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The CEO of Saudi Aramco, Amin Nasser, has called for a revision of the plans for the global energy transition, arguing that the demand for oil will not peak for some time. He claimed that although funding is increasing, alternative energy has not yet completely replaced hydrocarbons. For as long as it is necessary, Nasser urged policymakers to make sufficient investments in oil and gas, taking into account realistic demand projections. He added that through 2045, growing demand from developing nations might fuel an increase in the demand for oil. Because OPEC and the International Energy Agency (IEA) have different perspectives on the energy transition, their short- and long-term demand predictions disagree.

Saudi Aramco CEO says no peak in oil demand for some time to come

The CEO of Saudi Aramco, Amin Nasser, has called for a revision of the plans for the global energy transition, arguing that the demand for oil will not peak for some time. He claimed that although funding is increasing, alternative energy has not yet completely replaced hydrocarbons. For as long as it is necessary, Nasser urged policymakers to make sufficient investments in oil and gas, taking into account realistic demand projections. He added that through 2045, growing demand from developing nations might fuel an increase in the demand for oil. Because OPEC and the International Energy Agency (IEA) have different perspectives on the energy transition, their short- and long-term demand predictions disagree.

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