OPEC's Forecast of Peak Oil Demand: A Long Horizon Ahead

Core Viewpoint - OPEC's 'World Oil Outlook' presents a bullish forecast for oil demand, asserting that oil and gas will remain essential to global energy until 2050, suggesting a long-term buying opportunity for investors in the sector [1][2] Demand Growth in the Foreseeable Future - OPEC predicts global oil demand will rise from 102.2 million barrels per day (bpd) in 2023 to 120.1 million bpd by 2050, contrasting with the IEA's forecast of a peak at 105.6 million bpd by 2029 [2] Renewables and Energy Transition - OPEC acknowledges the growth of renewables but maintains that oil will still account for approximately 29.3% of the global energy mix by 2050, only slightly down from 30.9% today [3] Contrasting Supply Projections - OPEC anticipates $17.5 trillion in investment needed for oil production to meet future demand, with OPEC+ expected to control 52% of global production by 2050 [4] Emerging Markets: New Engine of Oil Growth - India is projected to contribute 8 million bpd to the expected demand increase by 2050, with non-OECD countries expected to offset declines in developed nations' oil consumption [6] The Road Ahead - OPEC's long-term outlook suggests that oil-focused stocks will remain attractive, particularly due to rising demand from emerging markets and consistent upstream investments [7] 3 Oil/Energy Stocks to Buy - Recommended stocks include Core Laboratories (valued at $5.2 billion), TechnipFMC (valued at $11.4 billion), and Tullow Oil (valued at $555.2 million), with significant projected earnings growth for each [8][9]