Southeast Asian demand for oil will keep growing until at least 2040 as emerging nations there rely on the fossil fuel to transport their rapidly growing populations by road, the International Energy Agency said on Tuesday. Oil usage in the region will expand to around 6.6 million barrels per day by 2040 from 4.7 million bpd now, with the number of road vehicles increasing by two-thirds to around 62 million, the agency said in a report launched at the Singapore International Energy Week. It did not make any forecasts beyond 2040. A global push to replace combustible engines in ...
Southeast Asian oil demand to keep growing until 2040, says IEA
Southeast Asia will have to fork out more than $300-bn in 2040 for net energy imports