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    US Department of Energy: Oil prices to soar up to $ 141

    Monthly oil production in OPEC countries to raise by 1 mln barrels per month

    Baku. 12 May. REPORT.AZ/ World oil prices may raise to $ 141/barrel by 2040. 

    Report informs citing the RBC, this probability reflected in updated forecast on energy markets from the US Department of Energy.

    According to report, the least demand for oil will increase in non-OECD Europe and Eurasia region and Russia.

    The demand in these countries for the year 2040 will increase by 14%. The reason for this is reduction in the number of population and to increase in energy efficiency.

    According to Bloomberg, employee Liam Denning global oil consumption shows at just shy of 121 million barrels a day in 2040. That is a full 31 million barrels a day higher than its baseline year of 2012.

    According to him, monthly oil production shows increase by 1 mln barrels worldwide since 2015. And for OPEC it will reach 47 mln barrels/day.

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