OPEC sees its own output below 2019 levels through 2026

Highlights of OPEC's World Oil Outlook

• Sees world oil demand rising by 1.7 mbpd in 2023 to 101.6 mbpd as world recovers from pandemic
• Projects global oil demand will plateau after 2030
• Sees US shale oil output peaking around 2030
• There is the potential for further volatility and a supply shortfall if necessary oil industry investments are not made
• Sees 2030 demand at 106.6 vs 107.2mbpd in last year's forecast

This is a view on the longer term. As we can all see from today's energy prices, even the short term is nearly impossible to predict.

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September 29, 2021 at 12:34AM
Adam Button
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