OPEC: Oil Demand Will Grow Until Late 2030s

OPEC: Oil Demand Will Grow Until Late 2030s

OilPrice.com

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OPEC expects global oil demand will exceed the pre-pandemic levels in 2022 and grow steadily until the late 2030s, when it will begin to plateau, the cartel said on Thursday, in a major shift in its forecast that put a timeline to peak oil demand. The coronavirus pandemic has changed some of the key assumptions in forecasts of all organizations and oil majors, including of OPEC, which said in its World Oil Outlook 2020 today that “Going forward, the big question hanging over energy and oil markets is to what extent there will be a longer-term…

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