Southeast Asia’s net crude oil imports will more than double by 2040 as the region looks to meet rising demand amid a fall in output.
Oil imports will grow to 5.5m barrels per day (bpd) by 2040 from 2.1m bpd now, according to the International Energy Agency (IEA).
The region, together with China and India, will account for about two-thirds of global oil demand growth over the next 20 years.
