OPEC expects global oil demand up to 110 million bpd by 2045‎

Haitham Al-Ghaith, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said today, Monday, that OPEC expects an increase in global demand for oil to 110 million barrels per day by 2045, an increase of 23 percent from current levels.

Oil prices rose in early Asian trade on Monday after a brief mutiny by Russia’s private military group Wagner at the weekend raised fears of political turmoil in Russia and its potential impact on oil supplies from one of the world’s top producers.

Analysts at Goldman Sachs said that the markets may be considering a slightly higher possibility that the domestic tension in Russia will lead to supply disruptions or a significant negative impact on the supply of oil in the future.