Crude oil demand is set to rise to 110 million barrels daily by 2045, which would be a 23% increase from current levels. This is what the Secretary General of OPEC, Haitham al Ghais, said today, as quoted by Reuters. The forecast comes a week after the International Energy Agency predicted oil demand growth will slow in the next few years, shrinking from 2.4 million bpd this year to 400,000 barrels daily in 2028, with peak demand in sight. The IEA’s bearish forecast was driven by a view that the accelerated deployment of electric vehicles,…
