OPEC FORECASTS RISING OIL DEMAND UNTIL 2050

OPEC forecasts continued growth in global oil demand until at least 2050, challenging predictions by the International Energy Agency (IEA) and climate experts, who anticipate a decline beginning as soon as 2030. In a report released Thursday (10), the organization projected an 18.6% increase in consumption, rising from 103.7 million barrels per day in 2024 to 123 million by 2050. OPEC maintains that a rapid transition away from fossil fuels is “unrealistic,” arguing that global energy needs will require expanded use of all sources – including oil, coal, and natural gas.
Source: AFP.com – Agence France-Presse / UDOP (*Translated by Ia Niani)