October 24, 2017 / 3:24 PM / a month ago

Global oil demand to rise despite push for renewables: Saudi minister

RIYADH (Reuters) - Global oil demand is expected to grow by 45 percent by 2050 despite an international push for using more renewable sources of energy, Saudi Arabia’s energy minister said on Tuesday.

Saudi Oil Minister Khalid al-Falih speaks during the opening of Baghdad International Exhibition, Baghdad, Iraq October 21, 2017. REUTERS/Khalid al-Mousily

Khalid al-Falih also told an investment conference in Riyadh that the kingdom, which is the world’s biggest crude exporter, would remain a cornerstone of the global oil industry through state-owned Saudi Aramco.

Reporting by Rania El Gamal; Editing by Edmund Blair

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