Energy
Enbridge Sees Strong Oil Demand in 2050, With US Supply Growing
- More oil usage is fueled by global economic demands, Ebel says
- North America plays a key role in growing LNG market, CEO says
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Enbridge Inc. Chief Executive Officer Greg Ebel said oil demand may continue to grow in the decades ahead, putting his company’s internal assumptions among the more bullish forecasters of long-term crude usage.
Oil demand by 2050 will be “well north” of 100 million barrels a day and possibly exceed 110 million daily barrels, Ebel said Tuesday in an interview at Bloomberg’s New York headquarters. That contrasts with an International Energy Agency projection that demand will decline to 97 million barrels a day by mid-century.