Saudi Arabia's energy minister warned on Monday that the oil markets are set for a period that could be dangerous. Reducing oil exploration and drilling could cut oil production by 20 million barrels by 2030, he said. The minister also noted that his country will be one of the few countries to increase output in 2022.
According to his expectations, the oil will make up 28% of energy demand until at least 2045, compared to 30% now.