In its World Oil Outlook 2026, the producer group said global oil demand will climb from 105.1 million barrels per day in 2025 to 113.3 million bpd by 2030 and top 124 million bpd by 2050.

Demand for oil and gas will continue to grow significantly amid strong demand for reliable and affordable energy sources, OPEC said

By 2030, OPEC+ countries could provide oil supply of 55.3 million bpd