What is OPEC's forecast for global oil demand in 2030 and 2050, and how does it compare to current levels?

OPEC forecasts global oil demand will rise to 113.3 million barrels per day in 2030 and 124.1 million barrels per day by 2050, up from 105.1 million barrels per day in 2025. This represents a sustained upward trajectory, with no peak in demand anticipated by the organization.

According to OPEC, what are the main drivers behind continued oil demand growth, and where is most of that growth expected to occur?

OPEC attributes continued oil demand growth to governments prioritizing energy security and affordability alongside climate goals — leading to the reversal, delay or cancellation of previously ambitious oil-reduction targets. The largest increments of demand growth will come from Asia, the Middle East, Africa, and Latin America, with India alone contributing 8.1 million barrels per day over the outlook period; sectorally, road transportation, petrochemicals, and aviation are expected to drive the biggest increases.

OPEC Sees No Peak Oil Demand as Energy Security Beats Climate

Jun 18, 2026

OPEC forecasts global oil demand will grow to 113.3 million barrels per day by 2030, prioritizing energy security over climate targets. The organization highlights significant investment needs and expects petrochemicals and transportation to drive future consumption.

bloomberg

2026-04-22

OPEC Downgrades Q2 Global Oil Demand Forecast

2026-04-29

OPEC+ Likely to Agree Another Oil Output Hike Without UAE, Sources Say

2026-04-29

Russia says OPEC+ will continue after UAE exit, no price war expected

2026-04-30

OPEC+ Delegates Expect Another Symbolic Supply Hike Without UAE

2026-05-02

OPEC+ Agrees in Principle on Small Output Hike