OPEC’s latest World Oil Outlook 2026 predicts a sustained increase in global oil demand through 2050. The organization anticipates demand will climb to 124.1 million barrels per day by the middle of the century. This forecast builds on expected increases in the near term, with demand projected to hit 113.3 million barrels per day by 2030. Currently, global oil demand stands at 105.1 million barrels per day as of 2025. The report suggests that despite the global push for renewable energy sources, oil will remain a critical component of the world’s energy mix for decades to come. The Astana Times reports this outlook from the Organization of the Petroleum Exporting Countries.