No global peak oil demand in sight, OPEC says

Published July 10, 2025 10:58am ET



The Organization of the Petroleum Exporting Countries said that global oil consumption will continue to swell well into the midcentury, with no peak in sight, rebutting outside forecasts that the world is shifting away from oil.

OPEC released its annual World Oil Outlook on Thursday, predicting that global energy demand will grow by at least 23% by 2050.

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