OPEC Warns Global Oil Demand Could Surpass 120 Million Barrels by 2050, Underscoring Risk of Price Shocks from Underinvestment
OPEC believes that global oil demand hasn’t peaked yet—and could surpass 120 million barrels per day by 2050. Secretary-General Haitham Al Ghais warns that underinvestment in energy infrastructure may lead to severe price fluctuations, posing risks to global economic stability.
As the world pushes forward with energy transition initiatives, OPEC stresses the need for a balanced approach—highlighting that fossil fuels and emerging technologies must both play a role in addressing the challenges of carbon neutrality. Despite the growing momentum for renewables, oil is expected to remain a critical pillar in the global energy mix for decades to come.


