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OPEC Says World Can’t Live Without Oil, Demand Will Keep Rising

Bloomberg · Grant Smith · last updated

OPEC held firm to projections that global oil demand will keep growing for another decade, and said it would be dangerous to abandon fossil fuels.

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Related Knowledge Center: ENERGY BASICS: fossil fuels

State of Play

Fossil fuels — coal, oil and natural gas, primarily — remain the dominant energy sources for much of the world, with their accompanying infrastructure of mines, drilling and production wells, pipelines and various forms of transportation. But they have become more problematic as governments struggle to address climate change and pivot to energy sources that do not result in carbon dioxide emissions.

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