CRUDE OIL AS SUSTAINABLE RESOURCE

Sustainability today begets stability tomorrow, which is vital given that Oil industry remains a growth business, with oil continuing to be a fuel of choice for the foreseeable future. Oil is presumed to remain the fuel with the largest share in the energy mix over the forecast period 2040, led by demand from transportation and petrochemicals. There will be variety of abundant energy resources to meet oil demand growth. Fast evolving trade pattern for crude oil and refined products will continue to change . Given the demand and supply outlook, there is evidently the need for significant investments across entire industry. OPEC countries ensure timely and adequate investment which do not lead to a supply shortage in the future. Sustainable Development Goal call for universal access to energy and eradicating energy poverty. The increased use of renewable energy levels and energy efficiency improvements will have significant effects on the energy levels. This paper attempts to analyze the future demand and supply of crude oil as a sustainable energy resources