Published 1 year ago

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

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.

1 year 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…

1 year 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

1 year ago·Noida, India

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The Epoch Times

OPEC Raises Long-Term Oil Demand View, Calls for Investment

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 to the rise of renewable e…

1 year ago·New York, 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 …

1 year ago·Riyadh, Saudi Arabia

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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

1 year ago·San Diego, United States

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