OPEC calls for more fossil fuel investment to prevent shortfall, dismisses peak oil demand prediction

OPEC sees oil demand growing by 25 million barrels per day in the developing world through 2045, with China and India alone contributing 10 million bpd.

OPEC Secretary General Haitham Al Ghais said oil demand will grow by 25 million barrels per day in the developing world through 2045, with China and India alone contributing 10 million bpd, as billions of people need access to basic services such as electricity, cooking gas and transportation.

in the coming years as production increases while demand slows and ultimately peaks by the end of the decade. Oil supply capacity will rise to 114 million per day by 2030, 8 million barrels more than global demand, according to the IEA. OPEC's Al Ghais rejected those predictions as"dangerous, especially for consumers and could lead to unprecedented volatility."

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