OPEC: No Peak Oil Demand. Global Oil Demand to Grow by 19.2 mb/d to 123 mb/d by 2050
with 3 charts
OPEC released its 2025 World Oil Outlook 2050 yesterday at the OPEC Seminar 2025. The Outlook covers all energy industry segments, but here we focus solely on oil demand and supply.
OPEC Global Oil Demand to Grow by 19.2 mb/d by 2050
Summary
OPEC launched its World Oil Outlook 2050 yesterday during the OPEC Seminar 2025. Figure 1 is the most critical chart in the Outlook for the oil market. OPEC predicts global oil demand will rise by 9.6 mb/d to 113.3 mb/d by 2030 and by 19.2 mb/d to 123 mb/d by 2050. Most growth will come from road transportation (+5.3 mb/d), jet fuel (+4.2 mb/d), and petrochemicals (+4.7 mb/d).
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