Energy demand in India and China is expected to increase by around 22 mboe/d and 21 mboe/d, respectively, in the period 2015–2040, the report noted. Total primary energy demand in India is likely to rise by 22 million barrels of oil equivalent per day by 2040 and by 21 mboe/d in China compared with 2015 levels, according to the OPEC World Oil Outlook 2040 report. India and China together are expected to account for 95% of the increase in global primary energy demand in 2040. The report also said that while total world crude production will peak at about 90 mb/d, it could be as high as 120 mb/d.
Total primary energy demand in India is likely to rise by 22 million barrels of oil equivalent per day by 2040 and by 21 mboe/d in China compared with 2015 levels, according to the OPEC World Oil Outlook 2040 report. India and China together are expected to account for 95% of the increase in global primary energy demand in 2040. The report also said that while total world crude production will peak at about 90 mb/d, it could be as high as 120 mb/d.