OPEC Producers Must Invest $60B To Meet Demand
November 1, 1999
OPEC oil producers will need to invest $60 billion by 2010 in order to meet world oil demand, according to figures released by the group. To maintain its 1995 production level and make its proportionate share of the additional amounts, OPEC needs to invest about $60 billion by the year 2010 and another $250 billion by 2020, officials said. World oil demand, which was about 70 million bpd in 1995, is expected to be over 90 million bpd in 2010 and over 100 million bpd in 2020.
Related News
Vessel Hijacking Attempt Reported off the Coast of Yemen
US House Panel to Hold Hearing on Baltimore Bridge Collapse
ULA Orders Rocket Transport Ship from Bollinger
Conflict Heating Up Over Cosco's Megaport in Peru
Adversarial Seas: AI and the Evolving Cyber Threat in Maritime