OPEC estimates increase in global oil demand until 2035

Inspenet.
Share on social networks
inspenet - 1104

By: Inspenet, November 4, 2022

The Organization of the Petroleum Exporting Countries (OPEC) foresees an increase in the world demand for oil until 2035, thanks to the impulse of the African countries, India and other Asian countries, to support transport and the expansion of their middle classes, according to the entity’s annual report.

According to OPEC, world demand stood at 96.9 million barrels per day (mbd) in 2021, according to estimates, and is expected to rise to 109.5 mbd between now and 2035.

From that date, and for a decade, demand will stabilize at 109.8 mbd, estimates the annual report of the Organization of Petroleum Exporting Countries, according to information from France 24.

“Demand from OECD countries shows a declining trajectory after 2024, and will fall to 34 mbd” by 2045, compared to demand in 2021, which reached 44.8 mbd, the authors of the report indicate.

On the contrary, long-term demand from non-OECD countries is expected to increase by 24 million barrels per day in that period, this following the expansion of the middle classes, strong population growth and a potential for economic growth in Advance.

Following previous forecasts, OPEC expects world oil demand to increase by 12.9 mbd, reaching 109.8 mbd in 2045. The document estimates a long period of stability from 2035, thanks to “energy policies and technological advances” likely to favor a diversification of the energy mix, according to France 24.

This material from the valoraanalitik.com portal was edited for clarity, style and length.

Source : https://www.valoraanalitik.com/2022/11/01/opep-preve-alza-en-demanda-mundial-de-petroleo-hasta-2035/

Photo: ShutterStock

Don’t miss the Inspenet News at: https://inspenet.com/inspenet-tv/

Share this news on your social networks
Rate this post
1 star2 stars3 stars4 stars5 stars (No rating yet)
Post Rating LoaderLoading...