He added that the fact that oil prices are not rising in spite of political issues in the Middle East, which is the country’s hub for fuel production and transportation, is another indication that the demand is waning.
On the outside of the Singapore International Energy Week, he told CNA’s Roland Lim,” I believe the crude requirement will be significantly less than it is today.”
His remarks came a moment after Saudi Aramco’s CEO, Amin Nasser, stated that due to the demand from developing nations, fuel usage is likely to rise until 2050.
But, according to Birol, oil will continue to be a component of the global energy mix.  ,
Uranium ENERGY SET TO Get” INTEGRAL”
Growing energy demand may be met by renewable sources of energy, including nuclear energy, Birol added.
He claimed that despite the slowdown in nuclear energy production caused by the Fukushima disaster in 2011, which released a lot of nuclear material into the atmosphere, it is making a “big, strong return” in countries like China, Japan, and South Korea.
” It is happening in two ways: One, building new large size nuclear power plants, and two, pushing the small modular reactors which was feed the information areas”, he told CNA.
He added that nuclear power, which is currently the second-largest supply of low-carbon energy produced worldwide after electricity, could be a significant component of the global energy mix in the years to come.