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OPEC raises long-term oil demand view, calls for investment

Summary by Ground News
The Organization of the Petroleum Exporting Countries (OPEC) called on Monday for trillions of dollars to be invested in the oil sector, projecting a surge in fossil fuel production through 2045. The global petroleum sector will require a cumulative investment of $12.1 trillion, the cartel forecasted in its 2022 World Oil Outlook. Fossil fuels collectively expected to make up a 69.6 percent share of the energy mix by that time.

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Reuters broke the news in United Kingdom on Monday, October 31, 2022.
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