🛢️ OPEC+ sees over 17.6% growth in demand for crude oil in the next 25 years

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Having revised its own gloomy forecast for the Q1, 2022, OPEC+ sees a significant global growth of over 17.6% for the crude oil in the next 25 years, despite the hype of net-zero targets.

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This is the time of the year when Chinese oil major CNPC releases its domestic "peak oil" demand. It keeps changing: 2021: peak “by 2030” at 780m tonnes 2020: peak “before 2030” at 740m tonnes 2019: peak “in 2030” at 705m tonnes 2018: peak “by 2030s” at 690m tonnes. The only thing that doesn’t change is the 2030 goal. Everything else, it’s different. In just 4 years, CNPC has lifted its Chinese peak oil demand forecast by 90 million tonnes (that’s about 1.8 million b/d), from 690m tonnes (13.85m b/d) to 780m tonnes (15.66m b/d