I think the market is robust. You know, in spite of what everything is said, we have seen a record demand last year not only in oil, gas, and even coal. And we are seeing a record demand this year on oil, gas, and also coal. So the demand is there. What people talk about, and there is a lot of additional barrels in the market, is not really based on fundamentals. If you look at storage facility, it is at the low end of the five-year average. So supply-demand, I would say, is balanced and the market is strong and we see a robust demand.
No, there is no supply glut because you should see it in a physical barrel that you should see it in onshore storage. What you see is some offshore storage which is in sanctioned barrels and these sanctioned barrels related to basically Russia, Iran, and Venezuela and you see they represent almost 70% of the market. So there is additional sanctioned barrels in offshore storage but in onshore storage, as I said, all you have to look at the five-year average and you will find out it is at the bottom end of the five-year average in onshore storage.
No, I don't think so. As I said, we are at record demand not only on oil, even coal that people said peak coal a long time ago, it is still increasing. The energy mix will continue. You need all sources of energy. You keep saying this, you need them: renewable, oil, gas, and other sources of energies as long as it's affordable, secure, and sustainable. And that is the case proven year on year. And you see adjustment, by the way, when people say last year was this, you see adjustment but it's not highlighted or magnified because adjustment is kept quiet and this adjustment that you see is upward adjustment to demand. So always you see upward adjustment to demand. So we think the demand is well supplied, the market is well supplied, and the demand is robust.
Yeah, we talked about it. It depends on which forecast you look at, but we said the forecast that we use is talking about 106 last year and this year you're looking at 107. So you're looking at a million to a million point three demand. In last year, I would say it was almost 1.2. This year we're looking at 1 to 1.3 million barrel additional demand in crude oil. We have a huge significant capacity in oil as you know with 12 million barrels maximum existing capacity. So and significant spare capacity that exists today. And what we are doing is we are in renewable in the kingdom and we are almost going to be close to 20% of the kingdom requirement by 2030 supplied by Aramco. There is other players in the kingdom like ACWA Power and we are partners with them in the renewable program. But my point is we are supplying energy in all sources: renewable, gas. I just explained how much we are growing our gas, 6 million barrel of oil equivalent in gas alone by 2030. That's a significant growth by any company in the world to do it in the number of years I talked about. So we are also looking at other sources of energies because we can supply hydrogen if the market offtake is there. So we are continuously looking at how we can supply more energy, not necessarily oil and gas, even as I say renewable, looking at hydrogen and all of these things. So we will continue to grow the company in all these sectors.
Well, definitely for gas, I would say the needs for more. It's available, it's affordable, it is there and it can be fielded at a lower cost compared to other sources of energy. So AI and the requirement for data centers, which is significant, would really put a huge demand on energy. And that's why the growth that we are seeing from a lot of companies right now looking at how we can put additional gas projects on stream either through LNG or piped gas.
Well, you know, it's an important... Humane will be looking at the Kingdom and international businesses when it comes to growth in data centers and applications and chips and all of these things. And considering our interest in AI, Aramco benefited a lot from AI. I always say we have the biggest infrastructure when it comes to compute. For AI to succeed, you need the compute, you need the talent, and you need the quality of data. And we have all of these three. We trained 6,000 of our subject matter experts aside from the data scientists on AI and they came up with a huge number of opportunities that technology realized value in two years, which 23 and 24 was $6 billion. 50% of that is AI related. The rest is digital. 25, we will finish, we'll publish our number next month because it's going through a third party verification. The number is also staggering in terms of how much is attributed to AI. The number of use cases I talked about here in Davos was 400. This year talking about 500. We had 100 scaled up from pilots to full deployment. And we are currently working with hyperscalers to commercialize these across the industry creating a more intelligent energy industry around the world. So we are really heavily interested in AI because of the value that created as a result of capitalizing on AI and this is where our interest in AI is. We can measure, we created the operation model augmented by our digital company and our center of AI excellence. We built the standard and the pathway for frontline ideas to full pilots and deployment in the company and created the value that we are seeing today as a result of this application of AI.
Well, you know, our relation with the US is strategic and we have excellent relation in terms of investment both ways in the kingdom and in the US. You know, Aramco has one of the biggest refineries in the US and lubricant and we have a huge business there and it's an important market for us. Similarly, you know, we work with a lot of companies that have huge investment within the kingdom and with Saudi Aramco and the relation is strategic. We have benefited from all of these mutual collaboration that we have. And you know, I think you mentioned Humane. Humane is going to be the national player that will really take data centers in the kingdom to the next level and provide all the requirement not only nationally also globally working with the hyperscaler and a lot of them are from the US in terms of scaling up a lot of these services and requirement. But the relation is strategic. You look at our investment, how much when the president visited the kingdom and the amount of investment just by Aramco looking at the whole kingdom and when the visit by His Royal Highness the Crown Prince to the US and the number of agreements we signed. So we have a strategic relation. This is more than 90 years or close to 100 years of relations. And we continue to build on these relations.
