• Focus Area Electricity Sector Transitions Electricity Sector Transitions
  • Type Methodology paper
  • Date 09 January 2024


Oil is a versatile source of energy that is used in various sectors, including the power sector. The power sector is transitioning toward low-carbon generation sources. During this transition, it is important to understand the role of oil-based power generation. This paper presents a meta-analysis of the long-term oil demand emerging from the power sector at the international level and by region. The analysis assesses and compares 19 prospective scenarios published between 2021 and 2023.


Marie Petitet

Senior Fellow Marie is a Senior Fellow in the Utilities & Renewables Department. Since she joined KAPSARC in 2021, her research has…

Marie is a Senior Fellow in the Utilities & Renewables Department. Since she joined KAPSARC in 2021, her research has focused on power system modeling (KAPSARC Power Model), market designs for energy transitions, and framework analysis for reliable and resilient power systems.

Prior to joining KAPSARC, Marie worked as a Research Engineer within the Research and Development (R&D) unit of the utility group EDF in Paris, France. During her EDF journey, she worked on long-term and short-term electricity market design, the transmission grid at the European scale, and smart-charging opportunities for electric vehicles. Marie also worked as a researcher within the Market Department of the French Transmission System Operator RTE.

Marie holds a Ph.D. in Economics from Dauphine University, PSL (France), an M.Sc. in Environmental and Energy Economics from Ecole des Ponts ParisTech (France), and a M.Sc. in Engineering from ENSTA Institut Polytechnique de Paris (France).


  • Electricity Markets
  • Power System Modeling
  • Electricity Market Design and Regulation
  • Energy Transition
  • Energy and Climate Policy

Publications See all Marie Petitet’s publications

Raed Al-Mestneer

Research Lead Dr. Raed is a Research Lead and an Economist in the Oil & Gas program, with a particular interest in…

Dr. Raed is a Research Lead and an Economist in the Oil & Gas program, with a particular interest in industrial development, economic diversification, and econometric modeling. He has worked with different types of econometric modeling techniques on different projects, especially in the field of economic diversification, oil prices and oil demand modeling. Prior to joining KAPSARC, he worked for Standard & Poor’s analytics and Capital IQ division in S&P’s headquarters in the financial district of New York, Wall Street, where he was involved in designing the first probability of default model tailored to the Saudi economy. He earned his Ph.D. in Economics from Southern Illinois University and was awarded a Master of Science in Economics from California State Polytechnic University. The title of his Ph.D. dissertation was “Economic Diversification: The Case of Saudi Arabia with Reference to Rich Natural Resource Countries.” He was assigned to lead KAPSARC's long-term sectoral oil demand forecast and outlook projects as a portfolio project manager. Through those projects, Dr. Raed, along with the rest of the project leads, was successful in developing forecasting models that forecast the long-term oil demand in different sectors (land transportation sector, maritime sector, aviation sector, petrochemical sector, residential/commercial building sector, agricultural sector, and power sector). Furthermore, Dr. Raed is a lead modeler of a project dedicated to forecasting the oil demand stemming from petrochemical feedstocks. He represented KAPSARC as a speaker at multiple conferences organized by the International Association for Energy Economics (IAEE) and workshops organized by the Office of the Economic and Development Affairs Commission (EDAC) of The Cooperation Council for the Arab States of the Gulf (GCC). Dr. Raed was recently appointed by the Board of Trustees of Riyadh Economic Forum as a supervising member of a study titled “Maximizing the Economic Revenue from Natural Resources to Achieve Sustainable Development.” Dr. Raed worked in KAPSARC as a T20 Events and Logistics Leader. He has made signicant contribution by being the first Saudi to teach applied econometrics at the newly eatblished KAPSARC Academy to facilatiate one of their acceleration programs in collaboration with LUISS Business School. Apart of Dr. Raed ’s academic, research, and advisory work he was a key member of an organizational restructuring team to develop KAPSARC’s training and learning & development programs (TASAMI) to build human capital capacity.


  • Research Interests Oil Demand Modeling
  • Econometric Analysis
  • Economic Diversification
  • Economic Development
  • Designing Policies to Mitigate Climate Change.

Publications See all Raed Al-Mestneer’s publications

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