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Peak oil demand not on horizon, OPEC says in outlook to 2050
OPEC rolls out global oil outlook to 2050, sees no peak demand
By Alex Lawler LONDON (Reuters) -OPEC raised its forecasts for world oil demand for the medium and long term in an annual outlook, citing growth led by India, Africa and the Middle East and a slower shift to electric vehicles and cleaner fuels.
OPEC's Forecast of Peak Oil Demand: A Long Horizon Ahead
For investors, OPEC's long-term view suggests that oil-focused stocks will remain attractive, particularly in the context of rising demand from emerging markets and steady upstream investments. OPEC’s forecast of sustained demand creates a compelling case for those investing in upstream oil projects and energy firms.
OPEC and IEA Oil Demand Views Are A World Apart
The chasm between the two forecasting bodies has widened so much in the past two years that they now hold contrasting views on medium and long-term global oil demand and how the world should approach the energy transition.
No peak oil demand 'on the horizon', phaseout a 'fantasy': OPEC
OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would keep growing until at least 2050, a key year in the battle against climate change."What the Outlook underscores is that the fantasy of phasing out oil and gas bears no relation to fact,
Peak oil demand not on the horizon, OPEC says in outlook to 2050
Oil futures rose on Tuesday as China stimulus measures and Middle East tensions boosted sentiment. "There is no peak oil demand on the horizon," OPEC said. Read more.
Opec sees world oil demand soaring through 2050, countering peak-oil predictions
Opec secretary general Haitham Al Ghais and his Opec research team unveiled the group's latest annual World Oil Outlook at the ROG.e 2024 event in Rio de Janeiro
OPEC boosts long-term oil demand outlook, driven by developing world growth
By Alex Lawler and Fabio Teixeira LONDON/RIO DE JANEIRO (Reuters) -OPEC raised its forecasts for world oil demand for the medium and long term in an annual outlook, citing growth led by India, Africa and the Middle East and a slower shift to electric vehicles and cleaner fuels.
Expected growth in the developing world sees OPEC raise oil demand outlook
The oil body said there "has been further recognition that the world can only phase in new energy sources at scale when they are genuinely ready”.
OPEC Bullish On Long-term Oil Demand, Oil Up On Geopolitics | The Gold Record Run | Global News
The Gold Record Run | Global News#oilprices #opec #crudeoil #gold #goldprices #etnow #businessnews #topnews
28m
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Oil forecasts cut for 5th straight month on demand, OPEC uncertainty: Reuters poll
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Midland Reporter-Telegram
2d
Oil prices drop 5% on rising OPEC supply, weak China demand
Oil prices dropped 5% this week due to rising OPEC supply and weak demand from China. Natural gas prices rose on Hurricane ...
5d
OPEC Secretary-General’s Speech in Brazil Disrupted by Protester
Ghais’s speech in Brazil got off to a rough start after the power went out to the podium and a protester took to the stage.
Crude Oil Prices
5d
OPEC Says Phasing Out Oil Is Just A Fantasy
According to OPEC, oil demand will remain robust for decades, with growing demand in non-OECD regions and the continued need ...
10d
OPEC Update, September 2024
Output for June 2024 was revised lower by 27 kb/d and July 2024 output was revised lower by 28 kb/d compared to last month’s ...
1h
Oil forecasts cut for 5th straight month on demand, OPEC uncertainty
Analysts have cut their 2024 oil price forecasts for a fifth consecutive month, citing weaker demand and uncertainty over ...
Crude Oil Prices
4h
Oil Prices Continue to Climb as Fears of a Major War in the Middle East Mount
As the conflict in the Middle East escalates, oil prices have been pushed higher on fears of major supply disruption.
The National on MSN
8h
Why Opec's next move needs to focus on long-term objective
Choosing Opec’s next move is a complex mix of game theory and signalling, beyond simply barrel-counting. But even the ...
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