OPEC Forecasts Rising Oil Demand, Sees $14 Trillion in Investment Needed Despite Net Zero Push

OPEC raises its oil demand forecast to 116 million bpd by 2045, up from previous outlook

Cites pushback against net zero emissions targets and need for oil investment

Sees $14 trillion in oil investment needed through 2045, higher than previous estimate

Contrasts with other forecasts like IEA that see oil demand peaking before 2030

OPEC share of oil market to rise from 34% now to 40% by 2045 as non-OPEC output declines