{"id":1431837,"date":"2023-10-09T19:00:00","date_gmt":"2023-10-09T23:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1431837"},"modified":"2023-10-09T19:00:00","modified_gmt":"2023-10-09T23:00:00","slug":"opec-says-oil-industry-needs-14-trillion-of-investment-by-2045","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/opec-says-oil-industry-needs-14-trillion-of-investment-by-2045\/1431837\/","title":{"rendered":"OPEC Says Oil Industry Needs $14 Trillion Of Investment By 2045"},"content":{"rendered":"<p><span class=\"field field--name-title field--type-string field--label-hidden\">OPEC Says Oil Industry Needs $14 Trillion Of Investment By 2045<\/span><\/p>\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p><a href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/OPEC-Says-Oil-Industry-Needs-14-Trillion-Of-Investment-By-2045.html\"><em>Authored by Tsvetana Paraskova via OilPrice.com,<\/em><\/a><\/p>\n<p><strong>The world needs $14 trillion in cumulative investments in the oil sector by 2045 to ensure market stability and avoid energy and economic chaos, <\/strong>OPEC\u00a0<a href=\"https:\/\/woo.opec.org\/chapter.php?chapterNr=1769\">said<\/a>\u00a0in its annual World Oil Outlook on Monday.<\/p>\n<p><a href=\"https:\/\/cms.zerohedge.com\/s3\/files\/inline-images\/2023-10-09_06-37-20.jpg?itok=6wJPG3mB\"><\/a><\/p>\n<p>The annual investments need to be around $610 billion on average, the bulk of which should go to the upstream segment, the cartel said, rebuffing calls for a halt in investments in new supply.<\/p>\n<p>The cumulative investments in the upstream need to be around $11.1 trillion by 2045 or an average of $480 billion per year. Downstream and midstream requirements are estimated at a total of $1.7 trillion and $1.2 trillion by 2045, respectively.<\/p>\n<p><em>\u201cIf these investments do not materialize, it represents a considerable challenge and risk to market stability and energy security,\u201d OPEC said in the annual report, in which it also raised its long-term oil demand forecast to 116 million bpd in 2045, up by 6 million bpd from the demand for that year expected in the 2022 annual outlook.<\/em><\/p>\n<p><em>\u201cEnsuring that these investments are made and sustained is a key challenge and of utmost importance to the stability of oil markets and security of supply,\u201d OPEC said in the 2023 outlook.<\/em><\/p>\n<p>This year, upstream investment is set to rise by 13%, to $360 billion, but this will only bring capital expenditure back to pre-pandemic levels.<\/p>\n<p><em><strong>\u201cHurdles to upstream investment, or even calls to curtail investment, are not helpful in this regard, and raise the risk of supply shortfalls and market volatility,\u201d<\/strong><\/em> the cartel warned.<\/p>\n<p>OPEC Secretary General Haitham Al Ghais commented in the foreword to the report,<\/p>\n<p><em><strong>\u201cCalls to stop investments in new oil projects are misguided and could lead to energy and economic chaos.\u201d \u00a0<\/strong><\/em><\/p>\n<p>\u201cHistory is replete with numerous examples of turmoil that should serve as a warning for what occurs when policymakers fail to acknowledge energy\u2019s interwoven complexities,\u201d Al Ghais noted.<\/p>\n<\/div>\n<p>      <span class=\"field field--name-uid field--type-entity-reference field--label-hidden\"><a title=\"View user profile.\" href=\"https:\/\/cms.zerohedge.com\/users\/tyler-durden\" class=\"username\">Tyler Durden<\/a><\/span><br \/>\n<span class=\"field field--name-created field--type-created field--label-hidden\">Mon, 10\/09\/2023 &#8211; 15:00<\/span><\/p>\n<p>\u200b<a href=\"https:\/\/www.zerohedge.com\/energy\/opec-says-oil-industry-needs-14-trillion-investment-2045\" target=\"_blank\" class=\"\" rel=\"noopener\">https:\/\/www.zerohedge.com\/energy\/opec-says-oil-industry-needs-14-trillion-investment-2045<\/a>\u00a0<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OPEC Says Oil Industry Needs $14 Trillion Of Investment By 2045 Authored by Tsvetana Paraskova via OilPrice.com, The world needs $14 trillion in cumulative investments&#8230;<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1431837","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-60u9","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1431837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1431837"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1431837\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1431837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1431837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1431837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}