OPEC forecasts global oil demand to rise to 103.9mln by 2023

Author: Giles Coghlan | Category: News

Opec forecasts

  • Opec raises mid term outlook for non-opec oil supply growth
  • Oil output to decline to 32.9mln bpd in 2024 from 35mln bpd in 2019 due to non-OPEC growth
  • Oil demand in OECD countries is projected to shift after after 2020 from growth to a declining trend
  • OPEC says oil demand to rise by 12mln bpd to 110.6mln by 2040, lower than last years forecast of 111.7mln bpd
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