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OPEC DOUBLES DOWN: PROJECTS 19% SURGE IN OIL DEMAND BY 2050
Despite mounting climate pressure, OPEC forecasts global oil demand to hit 123M barrels/day by 2050 — up nearly 19% from today. That’s 3M barrels/day higher than last year’s projection.
🔹 India expected to drive majority of growth
🔹 OPEC+ share to rise from 48% to 52%
🔹 U.S. withdrawal from Paris Agreement cited as a demand booster
🔹 Aviation, road transport, and petrochemicals lead long-term consumption
While BP, IEA, and others predict peak demand this decade, OPEC is betting big on a fossil-fueled future.
#OPEC #OilDemand #EnergyForecast #CrudeOil #GlobalMarkets
Despite mounting climate pressure, OPEC forecasts global oil demand to hit 123M barrels/day by 2050 — up nearly 19% from today. That’s 3M barrels/day higher than last year’s projection.
🔹 India expected to drive majority of growth
🔹 OPEC+ share to rise from 48% to 52%
🔹 U.S. withdrawal from Paris Agreement cited as a demand booster
🔹 Aviation, road transport, and petrochemicals lead long-term consumption
While BP, IEA, and others predict peak demand this decade, OPEC is betting big on a fossil-fueled future.
#OPEC #OilDemand #EnergyForecast #CrudeOil #GlobalMarkets
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