MUSCAT : The forecast was unveiled in the World Oil Outlook 2025 report, released Thursday by OPEC’s General Secretariat. The findings were presented during Kazakhstan Energy Week in Astana, where experts from OPEC’s research department outlined key insights before an open discussion with participants.
According to the report, oil demand is projected to climb to around 123 million barrels per day by mid-century. Analysts noted the projections account for evolving energy and economic trends, particularly as policymakers weigh the balance between supply security, affordability, and emission-reduction commitments.
Despite rapid growth in renewable energy and natural gas, OPEC stressed that oil will remain a “major source of energy for decades to come.” The organization argued that global reliance on oil will endure even as alternative energy solutions expand, underscoring the sector’s central role in meeting future demand.
According to OPEC's World Oil Outlook 2025, energy demand is set to rise by 23% by 2050, with oil consumption hitting 123 million barrels per day. The report highlights oil's enduring role in the energy mix, even as renewables and natural gas grow, stressing the need for a balanced approach to energy security and emissions reduction.