OPEC forecasts fossil fuel surge through mid-century ...Middle East

The Organization of the Petroleum Exporting Countries (OPEC) called on Monday for trillions of dollars to be invested in the oil sector, projecting a surge in fossil fuel production through 2045. With global oil demand projected to increase from almost 97 million barrels a day in 2021 to around 110 million barrels a day in 2045, the global petroleum sector will require a cumulative investment of $12.1 trillion, the cartel forecasted in its 2022 World Oil Outlook.  That’s equivalent to more than $500 billion each year, according to outlook, released on Monday at the Abu Dhabi International Petroleum Exhibition and Conference. The outlook, which assesses medium- and long-term prosp

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