Opec says industry needs £4.7trn

The global energy industry needs $7.5trn (£4.7trn) worth of infrastructure investment, according to new data from the Organisation of Petroleum Exporting Countries (Opec). In the annual bulletin, Opec – which represents the world’s 12 largest oil producers – said global oil demand would grow to 108.5 million barrels per day by 2035. Car ownership in China is expected to rise over the next few years, boosting demand for oil.