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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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The report provides a detailed analysis of key developments...
- OPEC Oil Reserves
Source: OPEC Annual Statistical Bulletin 2024. According to...
- Who Gets What From Imported Oil
Oil is always big news. Every increase in its price is...
- World Oil Outlook Archive
The World Oil Outlook combines the expertise of the OPEC...
- 60th Anniversary
The OPEC Secretariat noted that the eight OPEC+ countries...
- The OPEC Fund
The OPEC Fund Its 12 Member Countries are: Algeria, Ecuador,...
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- Reports
OPEC Digital Publications Overview. Monthly Oil Market Report. Annual Statistical Bulletin. Data Policy Disclaimer.
The World Oil Outlook combines the expertise of the OPEC Secretariat, professionals in OPEC Member Countries and the Organization’s Economic Commission Board, as well as input from various other sources. The OPEC Secretariat welcomes any feedback. 2023 PDF. 2022 PDF.
Monthly Oil Market Report 2022. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market ...
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 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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For OPEC, it is a great honour to launch the World Oil Outlook (WOO) 2024 in Brazil. The country’s comprehensive and inclusive approach to energy issues has been on display through its G20 presidency in 2024, and will no doubt be central to its hosting of COP30 in 2025.