Shares of Oil Producers Fall as OPEC Publishes 2025 World Oil Outlook

MT Newswires Live

2025/07/11

Shares of Woodside Energy Group (ASX:WDS) inched down 0.2% in early trading on Friday, while those of Santos (ASX:STO) fell almost 1%, as the Organization of the Petroleum Exporting Countries (OPEC) published the 2025 OPEC World Oil Outlook.

The report forecasts that global energy demand is set to expand by 23% to 378 million barrels of oil-equivalent per day in 2050, while global oil demand is set to grow to almost 123 million barrels of oil per day by 2050.

India, Other Asia, the Middle East, and Africa are set to be the primary sources of long-term oil demand growth, per the report.

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