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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. It is also a channel to encourage dialogue, cooperation and transparency between OPEC ...
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Oct 31, 2022 · 31 Oct 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). First published in 2007, the WOO offers a detailed review and assessment of the medium- and long-term prospects for the global oil and energy industries to 2045.
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. It is also a channel to encourage dialogue, cooperation and transparency between OPEC ...
Annual upstream investment requirements. Global oil-related investment requirements total $12.1 trillion (in 2022 US dollars) over the long-term, of which $9.5 tn is needed for the upstream, $1.6 tn for the downstream, and $1 trillion in the midstream. North America represents the bulk of upstream investments for most of the 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. OECD demand will also increase by 0.5 mb/d over the medium-term.
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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. This stance is fully in line with OPEC’s development of its WOO, as ...