Opec sees global oil demand at 116 mb/d in 2045

Opec sees global oil demand at 116 mb/d in 2045

Riyadh: The 2023 Opec World Oil Outlook (WOO) was launched on Tuesday at the King Abdullah Petroleum Studies and Research Centre (KAPSARC) in the Kingdom of Saudi Arabia. First published in 2007, the WOO offers a detailed review and assessment of the medium- and long-term prospects for global oil and energy to 2045, according to a press statement published by Opec on Tuesday.

The 17th edition of the flagship publication takes on board recent energy and economic-related developments, particularly related to the shifting dynamics around net zero policies, with many populations questioning the targets and the benefits, policymakers reevaluating their approach to energy transition pathways and new technologies being developed and deployed. It also underscores the need to bring modern energy services to billions that continue to go without.

Prince Abdul Aziz Bin Salman, Minister of Energy of the Kingdom of Saudi Arabia and Chairman of the Board of Trustees at KAPSARC was the special guest of honour and delivered remarks at the opening of the launch.

In HRH's remarks, Prince Abdul Aziz welcomed all attendees to KAPSARC as the Chairman of its Board of Trustees, especially Hayan Abdulghani Abdulzahra Alsawad, Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil.

He also