Kuwait Petroleum Corporation CEO Shaikh Nawaf al-Sabah said oil demand will increase during the energy transition.
Global energy demand will increase faster than the rate of population growth through 2050, the CEO of the Kuwait Petroleum Corporation said.
"The energy demand we see with the world is increasing at a rate faster than population growth," Shaikh Nawaf al-Sabah told the CERAWeek by S&P Global energy conference in response to a question about whether demand will peak by 2030."That means that we're going to require more energy intensity for the population in the world."
Saudi Aramco CEO Amin Nasser said Monday at CERAWeek that projections of peak oil demand this decade are focused on Western nations. More than 85% of the world's population, however, lives in developing countries, he said.
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