By 2021 non-OECD Asia will be importing 16.8 million barrels per day of crude oil and products, a rise of 2.8 million barrels per day compared to 2015. The People’s Republic of China (hereafter ‘China’), remains central to this growth, partly because of the underlying rise of oil demand but also due to its build-up of strategic reserves which will reach at least 500 million barrels by 2020.
World oil demand seems to be running ahead of the mid-term project by about 1 million barrels per day. If this trend held then world oil supply and demand could cross 100 million barrels per day in 2018 or 2019.
World oil supply hit 97.2 million barrels per day at the end of 2015.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.