The Organization of the Petroleum Exporting Countries this week published its annual World OilNSE -1.57 % Outlook, a reliably huge and dense examination of the future of the cartel\u2019s main product, as well as the markets that will drive its growth and compete against it. Bloomberg Opinion\u2019s Liam Denning referred to this year\u2019s outlook as \u201cdour\u201d and, in the medium term, even despairing of its members\u2019 contribution to the global supply of crude oil, natural gas liquids and other liquid fuels. Let\u2019s examine OPEC\u2019s views on hydrocarbon demand, key sectors and the future of energy in general.<\/p>\n
While the global oil market is reliably huge, in OPEC\u2019s view, parts of it are soon to be ex-growth, and by 2040 \u2014 the end of its forecast \u2014 global demand will hardly grow at all. Starting in 2020, oil demand growth in OECD countries turns negative. India and China are reliable growth markets throughout, though to a declining degree, while demand from Organization for Economic Cooperation and Development countries continues to erode. The net result is that oil demand is expected to grow by only 100,000 ba<\/p>\n","protected":false},"excerpt":{"rendered":"
The Organization of the Petroleum Exporting Countries this week published its annual World OilNSE -1.57 % Outlook, a reliably huge and dense examination of the future of the cartel\u2019s main product, as well as the markets that will drive its growth and compete against it. Bloomberg Opinion\u2019s Liam Denning referred to this year\u2019s outlook as \u201cdour\u201d and, in the medium term, even despairing of its members\u2019 contribution to the global supply of crude oil, natural gas liquids and other liquid fuels. Let\u2019s examine OPEC\u2019s views on hydrocarbon demand, key sectors and the future of energy in general. While the global […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-300373","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/300373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=300373"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/300373\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=300373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=300373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=300373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}