Global oil demand will gradually decline, giving way to gas and other energy sources, BP chief executive Robert Dudley told TASS on the sidelines of the World Economic Forum in Davos. Dudley, who will leave the company at the end of March, said that amid growing production in the US, this will make it unlikely that cycles will repeat when oil prices reached $ 100 per barrel or even exceed this level. “I think there will be a reduction in use of oil and coal over time. I think there will be advantaged oil economically and light oils, they will always be part of chemicals. I mean in coming time, for decades and decades, we will still be using oil to make pertochemicals, most certainly, but displacing fuel oils with natural gas or other things to generate power – it has got to happen,” said the head of the […]