Here are the New Oil Kings of the World

Here are the New Oil Kings of the World. BP, one of the world's energy giants, has published its 2035 Energy Outlook Report. According to the report, which focuses on the developments and changes in the world energy sector, by the end of this year, the world oil markets will be in turmoil. Because the United States of America (USA) will become the world's largest oil producer, surpassing Saudi Arabia, thanks to its shale oil.

The USA, which was the country that increased its daily oil production the most in 2012, still produces 8 million 900 thousand barrels of crude oil per day. The daily oil consumption of the 'Super Power' USA is at the level of 18 million 500 thousand barrels. The USA, the world's largest oil consuming country, meets only half of its daily consumption from its own resources. According to BP analysis, even if US oil consumption increases thanks to shale oil and gas, oil imports will decrease by 75 percent.
According to international relations experts, this change will significantly reduce the US's dependence on Middle Eastern oil. The Washington administration will focus more on the Asia-Pacific Region and Africa.

Another remarkable point in the report is that Canada, which produces oil with a new technology defined as 'sand oil', and Brazil, which has a serious knowledge of oil exploration in deep waters, are among the most important exports of the near future.

Middle East's production

According to the report prepared by BP, the influence of the Organization of Petroleum Exporting Countries (OPEC) on the world energy market will gradually weaken in the coming years. OPEC, which currently meets 86 percent of the world's demand, which is 43 million barrels per day, will fall a bit due to the increase in shale oil-gas production and new players emerging in Central Asia and Africa. The market share of OPEC countries is expected to decrease after 2020 and then increase again.

According to the report, world energy demand will increase by 20 percent in the next 41 years. The driving force of demand will be China and India. The share of renewable energy (wind, solar) resources in total energy production is still at the level of 2 percent. This figure will rise to the level of 7 percent.

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Source : news.gazetevatan

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