Vagit Alekperov: Peak demand for oil will begin no earlier than 2040

Baku. 23 March. REPORT.AZ/ "The peak demand for oil in the world can occur no earlier than 2040.".

Report informs referring to the RIA Novosti, President of Lukoil Vagit Alekperov said.

According to him, even when the scenario is pessimistic for fuel engines, peak demand for oil from in transport sphere is not expected until 2030: "This means that the peak of the total demand for oil can occur no earlier than 2040."

Alekperov added that the demand for energy resources in the world will continue to grow due to population growth and GDP per capita, while the fastest growing energy consumption from renewable sources is expected to increase demand for gas, reduce coal consumption and moderate growth in demand for oil. 

"According to various estimates, oil price can grow to $ 60-70 per barrel in 2030 ", Alekperov added.