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Middle East countries to increase share in global oil exports to 58% by 2050 — OPEC

At the same time, OPEC noted that OPEC's share in global exports could decline slightly by 2030 due to increased supply from Latin American countries, the United States, and Canada

MOSCOW, September 24. /TASS/. Middle East countries' share in global oil and condensate exports may grow to 58% by 2050 compared to 49% in 2023, according to the long-term OPEC World Oil Outlook.

At the same time, OPEC noted that OPEC's share in global exports could decline slightly by 2030 due to increased supply from Latin American countries, the United States, and Canada.

Overall, OPEC forecasts that global oil exports will increase to 41.2 mln barrels per day (bpd) in 2030, up from 36.5 mln bpd in 2023, due to strong demand growth. By 2050, the figure could rise to 46.2 mln bpd.

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