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.

Published 3 months ago

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Reuters

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

OPEC raised its forecasts for world oil demand in the medium- and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition.

3 months ago·United Kingdom

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The Hill

OPEC forecasts fossil fuel surge through midcentury

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. With global oil demand projected to increase from almost 97 million barrels a day in 2021 to around 110 million barrels a day in…

3 months ago·Washington, United States

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WION

OPEC raised long-term world oil demand forecast despite energy transition

In its annual outlook presented on Monday, OPEC increased its projections for the medium- and long-term global oil consumption and stated that $12.1 trillion in investments will be required to meet this demand despite the energy transition. According to the Organization of the Petroleum Exporting Countries' 2022 World Oil Outlook, oil demand will plateau before 2030 due to the growth of renewable energy sources and electric vehicles, in contrad

3 months ago·Noida, India

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OAN

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

By Alex Lawler ABU DHABI (Reuters) - OPEC raised its forecasts for world oil demand in the medium-and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to

3 months ago·San Diego, United States

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Arab News

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

Mon, 2022-10-31 15:38 ABU DHABI: OPEC raised its forecasts for world oil demand in the medium- and longer-term in an annual outlook released on Monday and said $12.1 trillion of investment is needed to meet this demand despite the energy transition. The view from the Organization of the Petroleum Exporting Countries, in its 2022 World Oil Outlook, contrasts with that of other forecasters which see oil demand reaching a plateau before 2030 due …

3 months ago·Riyadh, Saudi Arabia

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Business Standard

OPEC raises long-term oil demand view, calls for over $12 trn investment

OPEC also raised its demand forecasts for the medium term to2027, saying the figure is up by almost 2 million bpd by the endof the period from last year

3 months ago·India

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