US EditionDemand for Energy to Soar 44 per Cent From Now to 2050, OPEC Head Says
- Haitham al-Ghais, OPEC secretary-general, stated on June 10, 2025, in Calgary that global oil demand will continue growing for decades.
- He explained this projection follows data analysis forecasting a 24 percent increase in crude oil demand by 2050, surpassing 120 million barrels per day.
- Al-Ghais criticized net-zero targets as unrealistic and deadline-focused, emphasizing that meeting rising demand requires $17.4 trillion in investment over 25 years.
- He said, "There is no peak in oil demand on the horizon" and warned that investment delays risk under-supplying global markets despite environmental concerns.
- The statement implies OPEC expects ongoing growth in oil needs and highlights a gap between policy ambitions and market realities amid supply challenges.
16 Articles
16 Articles
OPEC Chief Claims Oil Demand Growth Is Here to Stay
Crude oil demand will continue growing over the coming decades as the world’s population increases, the secretary-general of OPEC, Haitham Al Ghais, said this week, predicting a 24% cumulative rise in this demand until 2050. “There is no peak in oil demand on the horizon,” Al Ghais said at the Canadian Global Energy Show, as quoted by Reuters. The top OPEC official went on to reiterate a warning about the adverse potential consequences of underi…
Shafaq News/ OPEC Secretary-General Haitham Al-Ghais predicted that oil demand growth will remain strong over the next two and a half decades as the world's population increases. The organization expects a 24% increase in global energy needs between now and 2050, with oil demand exceeding 120 million barrels per day during that period. These estimates are in line with OPEC's 2024 World Oil Outlook. "There is no peak in oil demand in sight," Al-G…
OPEC Secretary-General Takes Aim at Net-Zero Targets ‘Detached From Reality’
There’s no peak in global oil demand on the horizon and it will take trillions in investment in the coming decades to meet that need, the secretary-general of the Organization of Petroleum Exporting Countries said Tuesday. Primary energy demand is forecast to rise by 24 percent between now and 2050, surpassing 120 million barrels a day, Haitham al-Ghais said in a speech to the Global Energy Show. That will require US$17.4 trillion in investment …
OPEC boss slams net-zero targets, promotes big future for oil in Calgary speech
The secretary-general of the Organization of Petroleum Exporting Countries says the world's thirst for oil will continue for decades to come and investment in the sector is necessary to meet those needs.
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