Organization of the Petroleum Exporting Countries (OPEC) projects India will be the largest driver of global oil demand growth through 2050, adding 8.1 million barrels per day as developing economies fuel rising energy consumption.
The organisation says global primary energy demand will increase by 23%, with oil demand reaching 124 million barrels daily, requiring Sh2.2833 quadrillion in investments to meet future global energy needs.
In the 20th edition of its World Oil Outlook (WOO) 2026 report released on Monday, OPEC projects that India alone will account for an additional 8.1 million barrels per day (mb/d) of oil demand between 2025 and 2050, the largest increase among all regions.
According to the report, the primary sources of long-term demand growth will be India, Other Asia, the Middle East, Africa, and Latin America, with their combined demand expected to rise by 25.2 mb/d over the period.
"The primary sources of long-term oil demand growth are India, Other Asia, the Middle East, Africa and Latin America. Demand in these regions is set to increase by 25.2 mb/d between 2025 and 2050, with India alone adding 8.1 mb/d. Oil demand in Other Asia, the Middle East and Africa is set to increase by 5.3 mb/d, 4.7 mb/d, and 4.3 mb/d, respectively. Oil demand in Latin America is projected to increase by 2.8 mb/d and China by 1.1 mb/d over the same period."
OPEC Secretary General Haitham Al Ghais said governments should look beyond short-term geopolitical developments and focus on long-term energy planning as global demand continues to rise.
"It is vital that the world maintains a long-term focus on oil and energy outlooks. While short-term dynamics, such as geopolitical developments, often dominate the headlines, it is equally important to remain focused on the key trends driving our longer-term future."
The report forecasts that global primary energy demand will increase by 23% by 2050, driven largely by developing countries through economic expansion, population growth, urbanisation, energy-intensive industries and the rapid growth of data centres.
"Global primary energy demand will continue to expand. From now until 2050, we see it increasing by 23%, with growth almost entirely coming from developing countries. This will be driven by economic growth, expanding populations, ever-increasing urbanization, new energy-intensive industries, the rapid growth of data centres, and the need to bring energy to the billions that still go without."
OPEC argues that no single energy source can meet future demand, insisting that oil, natural gas, renewables and other technologies will all remain essential to the global energy mix.
"All energies will be required to meet this demand. The future is not one in which the world can choose some energies while disregarding others. The scale of humanity's energy consumption means that we need to embrace all available energy sources."
The organisation also projects that global oil demand will reach 124 million barrels per day by 2050, maintaining the largest share of the global energy mix, while stressing that there is "no peak in oil demand on the horizon."
To support future energy needs, OPEC estimates that the oil sector alone will require Sh2.2833 quadrillion in investment between 2026 and 2050, while also calling for continued investment in emissions-reduction technologies, including carbon capture, utilisation and storage, direct air capture and circular carbon economy frameworks.
"What these points highlight is that there is no credible way to address all the challenges and embrace all the opportunities before us without utilizing all available energy sources and all relevant technologies, and with energy market stability as a cornerstone for the huge investments required."