FOSSIL FUELS WILL REIGN FOR DECADES, OPEC SAYS

OPEC says global oil demand will steadily lessen from an annual average of 1.3 million barrels a day between 2016 and 2020, to 300,000 barrels a day by 2035-40. But it says fossil fuels will remain the main energy source. The organization’s annual World Oil Outlook says renewables are projected to record the fastest growth, but their share of total energy supply is still anticipated to remain below 5.5% by 2040. The report says the use of fossil fuels — 81% of the global energy mix in 2015 — will still account for 74% of all energy used in 2040.