The rate of demand for oil among the group of developing countries will increase by an average of 2.2 percent annually and for natural gas by 2.3 percent, said a study issued by OAPEC's General Secretariat.
The rate of demand for oil among the industrial nations will remain tepid in the near future affecting thus the energy markets especially exports by members of The Organization of Arab Petroleum Exporting Countries (OAPEC), the study, which was obtained by KUNA today, said. The study, which carries the title Present and Future Demands for Oil and Natural Gas in the Industrialized Nations and their Impact on OAPEC, seeks to probe that impact.
It said that demand for oil and natural gas is expected to grow for the next two decades among the developing countries and went into detail as to the rates of oil and gas production, consumption, and reserves among the developing countries and industrial nations.
The study also reviewed the industrialized nation's future demand for energy as it took an overview of their consumption pattern over the period from 2003 to 2012.