Crude oil demand is set to rise to 110 million barrels daily by 2045, which would be a 23% increase from current levels. This is what the Secretary General of OPEC, Haitham al Ghais, said today, as quoted by Reuters. The forecast comes a week after the International Energy Agency predicted oil demand growth will slow in the next few years, shrinking from 2.
4 million bpd this year to 400,000 barrels daily in 2028, with peak demand in sight. The IEA’s bearish forecast was driven by a view that the accelerated deployment of electric vehicles,…OPEC Sees Global Oil Demand Surging 23% By 2045
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