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- OPEC estimates that the world oil market is returning to surplus, which will only widen in the coming months as supply jumps from the group’s rivals -- including the deployment of emergency reserves by the U.S. and other consumers.
www.worldoil.com/news/2022/1/3/opec-to-increase-oil-output-as-2022-demand-confidence-grows
OPEC’s World Oil Outlook (WOO) is part of the Organization’s commitment to market stability. The publication is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry.
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Oct 31, 2022 · The 2022 OPEC World Oil Outlook (WOO) was today launched at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022 in the United Arab Emirates (UAE).
Oct 31, 2022 · OPEC's World Oil Outlook to be launched at ADIPEC on 31 October 2022. 14 Oct 2022 | The 2022 OPEC World Oil Outlook (WOO) will be launched at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022 in the United Arab Emirates (UAE).
OPEC total liquids supply. Non-OPEC supply peaks at just over 72 mb/d around 2030, before declining again to 67.5 mb/d in 2045. As a result, OPEC liquids will grow steadily from 2030, to 42.4 mb/d in 2045, increasing market share from 33% to 39% over the entire forecast period.
Global interregional crude oil and condensate trade are expected to increase from 36.5 mb/d in 2023 to 41.2 mb/d by 2030 on the back of strong oil demand growth. After 2030, trade is expected to continue to increase further, reaching levels around 46.2 mb/d by 2050.
Global oil demand is set to reach a level of 110.2 million barrels a day (mb/d) in2028, representing an increase of 10.6 mb/d compared to 2022. Non-OECD oil demand is expected to increase by a robust 10.1 mb/d, reaching a level of 63.7mb/d by 2028.
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The Outlook discusses critical issues, challenges and opportunities that the global energy industry, in general, and the oil industry, in particular, could face in the coming decades, touching on such factors as energy policy and climate negotiations, investment and the role of new technologies.