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OPEC Maintains Steady Oil Demand Forecast Amid Uncertainties

7/16/2025

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Summary

Story summary

OPEC holds its 2023 oil demand forecast steady at 1.29 million barrels per day amid economic uncertainties.
Global oil demand is expected to hit 123 million bpd by 2050, necessitating $18.2 trillion in investments.
In June, OPEC's production increased by 220,000 bpd, primarily driven by Saudi Arabia.
OPEC and IEA present differing forecasts, reflecting varied perspectives on future demand and supply stability.

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Story summary

OPEC holds its 2023 oil demand forecast steady at 1.29 million barrels per day amid economic uncertainties.
Global oil demand is expected to hit 123 million bpd by 2050, necessitating $18.2 trillion in investments.
In June, OPEC's production increased by 220,000 bpd, primarily driven by Saudi Arabia.
OPEC and IEA present differing forecasts, reflecting varied perspectives on future demand and supply stability.