Amin al-Nasser, Chief Executive of state oil company Saudi Aramco, attends the 18th International Oil Summit in Paris on April 27, 2017. / AFP / ERIC PIERMONT
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The boss of Saudi Arabia's state oil company defended petroleum as the mainstay of the global economy, countering theories that demand will peak within years with his own forecast that consumption will keep growing for decades."The global economy is forecast to double in size by 2050" so overall demand for energy will be higher, Saudi Arabian Oil Co. Chief Executive Officer Amin Nasser said at the International Oil Summit in Paris. The idea that oil demand is close to its maximum level is "equally as misleading" as now-discredited theories about peak oil supply, he said.
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