OPEC’s latest World Oil Outlook projects that global oil consumption will rise steadily for the next quarter-century, reaching 112.4 million barrels a day in 2050 despite accelerating growth in renewable energy. The organisation expects overall primary energy demand to expand 23 percent by mid-century, with electricity use almost doubling. Oil is forecast to retain the largest share of the energy mix at about 30 percent, while natural gas holds roughly 24 percent. The report says the expanded OPEC+ alliance plans to lift its combined crude output to 64.1 million barrels a day by 2050 and increase its share of the world oil market to 52 percent, up from 48 percent last year. OPEC analysts anticipate non-OPEC supply will plateau in the mid-2030s, allowing the producer group to capture incremental demand growth even as shale production in the United States peaks around 2030. In separate remarks on 27 June, Russian President Vladimir Putin said OPEC+ is already calibrating production to match a seasonal rise in consumption and indicated the group may continue with larger-than-planned output hikes agreed in April. Putin earlier told reporters on 20 June that no additional market intervention was needed, underscoring the alliance’s view that current policy is sufficient to balance supply with near-term demand.