OPEC predicts that global oil demand will increase by 19% in 50 years.

Kyodo News: Global oil demand is expected to grow faster; OPEC predicts a 19% increase over 50 years

Kyodo News, Brussels, July 10th. The Organization of the Petroleum Exporting Countries (OPEC) predicted in its 2025 World Oil Outlook released on the 10th that global oil demand will grow by 19% from 2024 over 50 years, reaching 122.9 million barrels per day. This is 2.8 million barrels more than the prediction announced last year, and it is expected that the growth of demand will accelerate. In addition to U.S. President Donald Trump, who has been inactive in global warming countermeasures, returning to government, it is also expected that demand from emerging countries will increase.

As an organization composed of major oil-producing countries, OPEC can emphasize the importance of oil and present scenarios where demand will increase. He also emphasized, "There is no indication that demand will peak 50 years from now."

Oil demand from Organization for Economic Co-operation and Development (OECD) countries, which include Japan, the United States, and developed European countries, is expected to reach 37.2 million barrels 50 years from now. This is a decrease of 19% from 2024, but still higher than last year's 35.6 million barrels. In addition to the United States, he pointed out that Europe, which emphasizes strengthening national defense capabilities and industrial competitiveness, may make slow progress in efforts to decarbonize.

India's demand growth is the most significant, expected to increase 2.4 times over 50 years, reaching 13.7 million barrels, while in 24 years.

Original: https://www.toutiao.com/article/1837301653576714/

Statement: This article represents the views of the author himself.