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OPEC believes total investment in the oil sector will need $17.40 trillion by 2050, while estimates for 2023 are to reach $14 trillion by 2045.

OPEC believes total investment in the oil sector will need $17.40 trillion by 2050, while estimates for 2023 are to reach $14 trillion by 2045.

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OPEC forecasts that oil demand will exceed 120 million barrels per day by 2050.

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OPEC raised its medium-term to 2028 and long-term global oil demand forecasts to 2045 in its World Oil Outlook 2024.

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