Saudi crown prince: oil demand will increase in 2030-2040

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Reuters

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Tue, 24 Oct 2017 - 02:08 GMT

BY

Reuters

Tue, 24 Oct 2017 - 02:08 GMT

Mohammed bin Salman attends a graduation ceremony and air show marking the 50th anniversary of the founding of King Faisal Air College in Riyadh, Saudi Arabia, January 25, 2017- REUTERS

Mohammed bin Salman attends a graduation ceremony and air show marking the 50th anniversary of the founding of King Faisal Air College in Riyadh, Saudi Arabia, January 25, 2017- REUTERS

RIYADH – 24 October 2017: Demand for oil will increase between 2030 to 2040 because there will be a need from petrochemical and other industries, not just for energy production, Saudi Arabia's crown prince said on Tuesday.

"I do not think demand for oil will decline but will increase between 2030 and 2040," Prince Mohammed bin Salman told a major investment conference in Riyadh.

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