Loading...
Market
What will global primary energy demand be in 2050 according to OPEC?
2
Resolution / Starting Odds
Less than 350 mboe/d • 25%
350-374 mboe/d • 25%
375-400 mboe/d • 25%
More than 400 mboe/d • 25%
OPEC's annual World Oil Outlook report for 2050
Story
OPEC Extends Oil Demand Outlook to 2050, Calls Phaseout a 'Fantasy', $17.4 Trillion Investment Needed
Sep 24, 2024, 05:09 PM
OPEC has extended its global oil demand outlook to 2050, asserting that there is no peak demand on the horizon and calling the phaseout of oil a 'fantasy.' The organization has raised its oil demand forecasts for the medium term to 2028 and the long term to 2045. According to OPEC's latest World Oil Outlook, global oil demand is projected to reach 112.3 million barrels per day (mb/d) in 2029 and more than 120 million barrels per day in 2050. The total oil sector investment needed to 2050 is estimated at $17.4 trillion, compared to the $14 trillion estimated for 2045 in 2023. Additionally, global primary energy demand is set to increase from 301 million barrels of oil equivalent per day (mboe/d) in 2023 to 374 mboe/d in 2050, an increase of 24% over the outlook period.
View original story
Similar markets
Less than 75 million barrels per day • 25%
75-85 million barrels per day • 25%
85-95 million barrels per day • 25%
More than 95 million barrels per day • 25%
1.54 million bpd or less • 25%
1.55 to 1.64 million bpd • 25%
1.65 to 1.74 million bpd • 25%
1.75 million bpd or more • 25%
1.64 million bpd or less • 25%
Between 1.65 and 1.74 million bpd • 25%
Between 1.75 and 1.84 million bpd • 25%
1.85 million bpd or more • 25%
Less than 100 million barrels per day • 25%
100-105 million barrels per day • 25%
105-110 million barrels per day • 25%
More than 110 million barrels per day • 25%
Less than 5 million barrels per day increase • 25%
5-7.5 million barrels per day increase • 25%
7.5-10 million barrels per day increase • 25%
More than 10 million barrels per day increase • 25%
Above 1.74 million bpd • 25%
1.74 million bpd • 25%
Below 1.74 million bpd • 25%
Other • 25%
Increased • 25%
Decreased • 25%
Unchanged • 25%
No revision • 25%
No change • 25%
Increase up to 50,000 bpd • 25%
Decrease up to 50,000 bpd • 25%
Change of more than 50,000 bpd • 25%