Daily Energy Report
OPEC’s global oil outlook, EU gas, Natgas prices, gas import mix, IEA’s oil outlook, Brazil and US oil imports, Mozambique LNG revived, Russian crude exports, Houthi attacks raise insurance, and more.
July 11, 2025
Chart of the Day
OPEC: Global Oil Demand to Grow by 19.2 mb/d by 2050
Summary
OPEC launched its World Oil Outlook 2050 yesterday during the OPEC Seminar 2025. Figure 1 is the most critical chart in the Outlook for the oil market. OPEC predicts global oil demand will rise by 9.6 mb/d to 113.3 mb/d by 2030 and by 19.2 mb/d to 123 mb/d by 2050. Most growth will come from road transportation (+5.3 mb/d), jet fuel (+4.2 mb/d), and petrochemicals (+4.7 mb/d).