OPEC expects oil to continue accounting for 30% of global energy mix by 2050: Al Ghais

Haitham Al Ghais, OPEC Secretary General

OPEC Secretary General Haitham Al Ghais reiterated on Wednesday that more investment is needed in oil and gas, saying oil will continue to account for about 30% of the global energy mix by 2050.

A growing economy, population growth, and urbanisation all lead "to one clear signal that the world will need much more energy than it is consuming today," he said in remarks to the Russian Energy Week conference in Moscow, as reported by Reuters.