OPEC: oil demand will grow until 2035

The Organization of Petroleum Exporting Countries has released the forecast on the increase in oil demand until the year 2035

In its most recent report, OPEC forecasts a sustained increase in demand for crude oil until 2025, taking as a reference the requirements in the transport and technology sectors.

The report of the Organization of Petroleum Exporting Countries, published this Monday, indicates that the increase in the demand for crude will be the result of the “push of the African countries, India and other Asian countries, to feed the transports and the expansion of their middle classes.

 

OPEC

 

According to the cartel, in 2021 global demand stood at 96.9 mbd; and by 2035 consumption would be at 109.5 mbd. Experts have indicated: “The demand of the OECD countries presents a declining trajectory after 2024, and will fall to 34 mbd” by the year 2045, compared to the demand of 2021, which reached 44.8 mbd, indicate the authors. Of the report.

At the same time, they point out that due to the expansion of the middle class, demographic growth and potential economic development in non-OPEC countries, the demand for crude oil will also rise, reaching 24 mbd.

Among the countries with the greatest impact on this increase in the demand for crude oil in the coming years and even until 2045 are China, India and other Asian countries, as well as African nations, “where economic progress, urbanization, industrialization and the expansion of the automobile fleet will be faster”, the organization has pointed out.

M.Pino

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Source: primicia

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