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World oil outlook report 2045 From OPEC

The following is the World oil outlook report 2045 From OPEC recommended by recordtrend.com. And this article belongs to the classification: global economy , research report.

It is estimated that the oil demand in 2021 will be 96.6 million barrels / day; As the world recovers from the epidemic, oil demand will increase by 1.7 million barrels / day to 101.6 million barrels / day in 2023.

It is estimated that the global oil market share will rise from 33% in 2020 to 39% in 2045; Global oil demand will continue to grow until 2035, and will decline by the 1930s.

By 2045, oil will still occupy the largest share of the energy structure; The share of coal in global energy demand will decline from 27% in 2020 to 17% in 2045; By 2045, the share of renewable energy in global energy demand will increase from 2.5% in 2020 to 10%; The share of natural gas, nuclear energy and biomass energy in the global energy demand mix is expected to change little from 2020 to 2045.

OPEC believes that despite rising demand, its own crude oil production will be lower than that in 2019 due to the recovery of non OPEC supply. After predicting growth for many years, the group turned last year to admit that demand would peak one day. This year’s crude oil report predicts that the average world oil demand in 2030 will be 106.6 million barrels / day, 600000 barrels / day less than last year’s forecast.

Nevertheless, OPEC remains optimistic about its future prospects and believes that its market share will rise in the coming decades as competition from non OPEC oil producing countries weakens. OPEC predicts that US shale oil production will peak around 2030.

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