BP Energy: Gulf countries will increase their energy consumption in the Middle East by 54% by 2040

The BP Energy Outlook report predicts that energy consumption in the Middle East will increase by 54 percent by 2040, noting that sharp increases in the Gulf States population over the past 20 years In the coming years, the recent international report indicates that Saudi Arabia's population growth will reach 36 percent during this period, while the highest population growth in Oman will be 45 percent, followed by UAE 39 percent.
That the Gulf countries look and work hard to promote the future of energy through the development of oil resources
The report points out that the recovery of oil production is a very important tool necessary for producing countries of the Persian Gulf, as it seeks to strengthen its global competitiveness in energy, highlighting the capacity The huge reserve in the region, which is essential for the Gulf States to maintain its place at the top of the list of global oil producers.
The report underestimated the possibility of realizing the International Energy Agency that the United States could be the world's largest oil producer In addition, Saudi Arabia has suspended crude oil shipments from Bab Al-Mandab Strait in the Red Sea, following the attack of two Huthi militiamen against oil tankers.
Further gains OPEC-driven production continues to grow in cooperation with independent producers to pump an additional 1 million barrels per day in response to consumer demand and offset the significant supply constraints due to downward production and expected sanctions on Iran.
Ross Kane stated that Saudi Arabia had indeed increased its oil production levels since OPEC producers and their non-OPEC allies agreed to relax the restrictions on oil production. production to boost the global supply of oil without falling into a trap.
He pointed out that Middle Eastern producers were strongly committed to filling the gaps that could be exposed to markets, particularly following the decisions of US President Donald Trump to renew economic sanctions. against Iran. November For its part, the economist Arturas Vives, director of investments at Victoria Bank of the State of Moldova, pointed out that Russia was putting in place effective plans to boost investment, given the current trend to increase production.
He announces that next year, Russia will make impressive reforms by gradually reducing the export duties of crude oil and petroleum products in 2024, explaining that at the same time Russia will increase oil extraction taxes, which supports Financial Center for Exporters.
For its part, cf. The current trade war between the two countries and economic growth in general, economic analyst Andrei Yaniyev of Bulgaria and an energy expert pointed out that Chinese oil imports from the United States have increased He stressed that China bought 13 million barrels of US oil this year, up 4 million barrels from last year, indicating that the mutual threat of tariff rejection between the two countries could drive down import levels. China In price terms, Brent crude pushed up oil prices yesterday, continuing its gains for the third day after Saudi Arabia suspended transit of crude oil shipments through the strategic strait of Bab al -Mandab. In the Red Sea and the data showed a decline in US oil stocks to the lowest level in three and a half years. London Brent futures rose 42 cents, or 0.6 percent, to 74.35 dollars a barrel at 6:48 GMT, after rising 0.7 percent the next day
WTI futures increased by 5 cents to 69.35 dollars per barrel After increasing by more than 1% in the previous session
Most Gulf exports through the Suez Canal and the Sumed Pipeline pass through the Strait of Bab al-Mandab.