OPEC has for the first time forecast the peak in global demand, estimating that the world’s thirst for oil will stop growing in about 20 years. Receive daily email alerts, subscriber notes & personalize your experience. Register Now With the coronavirus pandemic prompting a re-examination of the oil market and countries becoming more aggressive on their sustainability targets, OPEC on Oct. 8 estimated that global demand would hit 109.3 million b/d in 2040 before declining to 109.1 million b/d in 2045 and plateauing “over a relatively long period.” The figures are contained in OPEC’s latest annual World Oil Outlook, the bloc’s energy market roadmap for the coming decades, and are its first official acknowledgement that oil consumption will not continue growing. Still, the projections are […]