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Demand for oil will grow sharply in the next few years as the global economy recovers from the pandemic, OPEC said on Tuesday, adding that the world needs to keep investing in oil production to avert a crunch even as the energy transition is under way. The view from the Organization of the Petroleum Exporting ...
4 Min Read LONDON (Reuters) - World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits. FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed stock graph and OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic//File Photo The prediction from the Organization of the Petroleum Exporting Countries, made in its 2020 World Oil Outlook, comes amid a growing number of other fo...