Global Energy Demand to Rise by 23%, OPEC Says

Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary-General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday.
Oil executives and officials from the Organization of Petroleum Exporting Countries have repeatedly made the case for continued investment in oil, warning that prices will otherwise spike higher, Reuters reported.
Al Ghais also said calls to limit or stop funding new oil projects were unrealistic and unwise. 
He acknowledged, however, the need for technology to tackle continued fossil fuel emissions.
"Global primary energy demand is forecast to increase by a significant 23% in the period up to 2045, which means we will need all forms of energy," he said.
"We will require innovative solutions such as carbon capture utilization and storage, and hydrogen projects in addition to a circular carbon economy, which has received a positive endorsement from the G20."
Al Ghais said the global oil industry needs $12.1 trillion in investment during the same period, adding that the industry was not on track to reach that level of investment yet.
Sources close to OPEC have said it will likely maintain an upbeat view on oil demand growth for next year.