November 2020, Vol. 247, No. 11

Global News

Global News

OPEC Predicts Oil Demand to Plateau in Late 2030s World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits.  (source OPEC) According to OPEC’s “2020 World Oil Outlook,” oil use will rise to 107.2 MMbpd in 2030 from 90.7 MMbpd in 2020.  The updated projection is 1.1 MMbpd lower than it predicted for 2030 in last year’s forecast and came amid speculation that the coronavirus crisis may prove a tipping point for peak demand. “Global oil demand will grow at relatively

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