OPEC chief says no peak to oil demand before 2050
The OPEC oil cartel said Thursday that demand for crude will continue to expand through at least 2050, calling efforts to rapidly shift away from fossil fuels an unworkable fantasy.
In its latest annual report on the outlook for oil demand, OPEC sees oil demand rising by 18.6 percent from 103.7 million barrels per day in 2024 to around 123 mbd in 2050. "There is no peak oil demand on the horizon," said Haitham Al Ghais.
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