The Organization of the Petroleum Exporting Countries said that global oil consumption will continue to swell well into the midcentury, with no peak in sight, rebutting outside forecasts that the world is shifting away from oil.
OPEC released its annual World Oil Outlook on Thursday, predicting that global energy demand will grow by at least 23% by 2050.
The bloc has forecast that oil will play a key role in meeting these power needs, with oil projected to maintain the largest share in the global energy mix in 2050 at around 30%. When combined with gas, the fossil fuels are expected to make up more than 50% of the global mix.
The oil-producing bloc indicated that much of this reliance on fossil fuels will continue to be driven by the desire
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