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World oil outlook 2007 OPEC

Demand for energy is set to continue to grow and oil is expected to maintain its leading position in meeting the world's growing energy needs for the foreseeable future. In our reference case, with an average global economic growth rate of 3.5% per annum (purchasing power parity basis), and oil prices assumed to remain in the S50-60/b range in nominal terms for much of the projection period, oil demand is set to rise from the 2005 level of 83 mb/d to 118 mb/d by 2030. This also assumes that no particular departure in trends for energy policies and technologies takes place. This is a very important caveat for there are inherent downside risks to demand, something that is specifically addressed in this outlook.

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333 ORG W
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Indonesia
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