Global oil consumption will reach 100 million barrels per day (bpd), which is more than twice what it was 50 years ago, in the next few weeks and it shows no immediate sign of falling.
Despite overwhelming evidence of carbon-fuelled climate change and billions in subsidies for alternative technologies such as wind and solar power, oil is so entrenched in the modern world that demand is still rising by up to 1.5 per cent a year.
Diversified Gas & Oil Plc (LON: DGO) owns and operates gas and oil producing wells in the Appalachian Basin in the United States. The Company’s operations are based in the neighbouring states of Pennsylvania, Ohio and West Virginia, which cover part of the largest and oldest hydrocarbon producing field in the US, known as the Appalachian Basin.