OPEC boosts long-term oil demand outlook

By Reuters

Sep 26, 2024 12:21 am

LONDON/RIO DE JANEIRO, Brazil — OPEC raised its forecasts for world oil demand for the medium and long term in an annual outlook, citing growth led by India, Africa and the Middle East, and a slower shift to electric vehicles and cleaner fuels.

The Organization of the Petroleum Exporting Countries (OPEC), in its 2024 World Oil Outlook published on Tuesday, sees demand growing for a longer period than other forecasters like BP and the International Energy Agency, which expect oil use to peak this decade.

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