Prospects for the Development of the Oil and Gas Industry in the Regional and Global Economy

Short summary

Global conventional oil production is projected to peak between 4.5-4.8 billion tons annually from 2020-2030, with major hubs in the Persian Gulf, Siberia, Caspian Sea, and Atlantic shelves. Maintaining this level will require large-scale development of unconventional sources like bitumen and shale oil, with Venezuela, Canada, Russia, and the US leading production.

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