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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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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). 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.
OPEC Digital Publications Overview. Monthly Oil Market Report. Annual Statistical Bulletin. Data Policy Disclaimer.
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.
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.
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Oil demand sees robust medium-term growth and reaches over 120 mb/d by 2050, driven by the non-OECD. Global oil demand is projected to reach 112.3 million barrels a day (mb/d) in 2029, representing a strong increase of 10.1 mb/d compared to 2023.