Key facts
- OPEC forecasts robust growth in global oil demand.
- The organization does not foresee a peak in global oil demand.
- Governments are prioritizing energy security and affordability alongside climate goals.
The Organization of the Petroleum Exporting Countries (OPEC) anticipates sustained robust growth in global oil demand, indicating that a peak in consumption is not on the horizon. This projection is underpinned by a global shift where governments are increasingly balancing climate objectives with the immediate needs of energy security and affordability. The emphasis on these dual priorities is expected to support continued demand for oil in the coming years.
