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In its annual World Oil Outlook, OPEC extended its forecast period from 2040 through 2045, projecting worldwide oil demand to increase by nearly 10 million barrels per day (b/d) over the long term, rising to 109.3 million b/d in 2040, and to 109.1 million b/d in 2045.  

OPEC cuts long-term forecast for oil demand growth

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In its annual World Oil Outlook, OPEC extended its forecast period from 2040 through 2045, projecting worldwide oil demand to increase by nearly 10 million barrels per day (b/d) over the long term, rising to 109.3 million b/d in 2040, and to 109.1 million b/d in 2045.  

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