OPEC’s new forecast of oil demand in 2050
reported by Mehr Reporter quoted by Tass, the Organization of Petroleum Exporting Countries, OPEC, announced in its new report entitled “World Oil Outlook” that assessments show that by 2050 the global demand for oil will be 18 million barrels. It will increase during the day.
OPEC predicts that by 2029, the global oil demand will exceed 112 million barrels per day and will increase by 10.1 million barrels per day.
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OPEC, of course, has announced that a significant part of the increase in oil demand will be related to countries that are not members of the Organization for Economic Cooperation and Development, so that out of the total of 10.1 million barrels per day, the increase in demand will be By 2029, oil is equivalent to 9.6 million belonging to countries that are not members of the Organization for Economic Cooperation and Development, and the total demand of these countries will reach 66.2 million barrels per day.
OPEC believes that the oil demand of the member countries of the Organization for Economic Cooperation and Development will decrease in the long term until 2050, but the demand of other countries will increase by a total of 28 million barrels per day.
It is predicted that India’s oil demand alone will increase by 8 million barrels per day by 2050.
OPEC has stated in its report that by 2050 the energy demand in the world will grow by 24% and oil will remain as the most consumed energy carrier. The share of renewable energy in the total energy supply of the world will also increase from the current 3.2% to 14%.
