OPEC Chief: global energy demands will rise 23 pct by 2050

KUWAIT, Nov 6 (KUNA) -- OPEC Secretary General Haitham Al-Ghais said Thursday that global demand for primary energy is expected to rise by 23 percent, from 308 to 378 million barrels of oil equivalent per day by 2050.
Al-Ghais made the remarks during a lecture about the future of energy markets and the role of OPEC and oil-producing countries, organized by the Saud Al-Nasser Al-Sabah Diplomatic Institute, attended by Deputy Foreign Minister Sheikh Jarrah Jaber Al-Ahmad Al-Sabah and KPC CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah.
He affirmed that the world will continue to need all forms of energy, stressing that oil will remain a vital energy source despite climate concerns; Climate change is not a call to abandon oil, he said, noting that solutions lie in technology and emission-reduction investments, which will be discussed at COP30 in Brazil.
Al-Ghais highlighted OPEC members' efforts to cut emissions through modern technologies while maintaining energy security and supply stability.
He added that renewable energy complements, rather than replaces oil, currently representing only 3 - 4 pct of the global energy mix, compared to 80 percent from fossil fuels.
He called for balanced and realistic energy policies, warning against overreliance on a single source. OPEC forecasts indicate that global oil demand will reach 123 million barrels per day by 2050, driven mainly by non-OECD countries.
Al-Ghais said OPEC is conducting an extensive media campaign to counter misinformation about fossil fuels, reaffirming that oil remains the engine of the global economy.
He reiterated OPEC's commitment to stable oil markets and its right to coordinate member states' petroleum policies to ensure secure supplies.
Al-Ghais stressed that achieving a stable global energy future requires ongoing international cooperation and praised Kuwait's founding role in OPEC.
He also commended the Diplomatic Institute's efforts in preparing the next generation of Kuwaiti diplomats, expressing pride in his early career experience at the Ministry of Foreign Affairs. (end) maa.dm