OPEC asserts that the world requires $18.2 trillion in investments for oil and gas by 2050.

OPEC Secretary General Haitham Al Ghais stated in an exclusive interview with Energy Connects that the world requires $18.2 trillion in oil and gas investments by 2050 to secure energy supply. Oil demand is projected to rise until 2050, reaching 123 million barrels per day, up from approximately 104 million bpd this year, according to OPEC’s recent World Oil Outlook (WOO).

OPEC estimates that oil will still represent 30% of the global energy mix in 2050, emphasizing that these estimates are based on facts. Al Ghais highlighted that this forecast places additional responsibility on OPEC, which continues to push for greater investments in the energy sector. He stressed the importance of immediate investments to prepare for the future. In the WOO 2025 foreword, he noted that "There is no peak oil demand on the horizon."

Despite a downward revision of oil demand growth forecasts for 2025-2029 due to slowing Chinese demand, global economic development and a rising middle class are expected to drive demand growth in the long term. OPEC maintains its stance that peak oil demand is not expected soon, contrasting with industry and International Energy Agency (IEA) forecasts, which suggest that demand may plateau next decade.