Figure1.1Worldpopulationgrowth,1997-2021versus2021-2045millionsSource:UN,OPEC1997-20212021-2045MiddleEast&Africa526.74747.40OPEC217.86243.86OtherAsia358.34243.86India405.23238.30OECD186.9450.74LatinAmerica113.8662.37RestoftheWorld3.96-1.67China188.09-76.14Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinfotobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmadetoensuretheaccucomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamaTheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOPECand/refining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbecoprobativelegalvalueinanyproceedings.1997-2021-1004009001,4001,9002,400millionsrldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmakesnowarrantiesorrepn,orforanylossordamagearisinginconnectionwithorattributabletoanyactionordecisiontakenasaresultofusingorrelyingontsarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinthonthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthorities,orcdOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,treaty,laworothertexts;or1997-20212021-2045RestoftheWorldLatinAmericaOECDChinaOPECOtherAsiaIndiaMiddleEast&Africambusiness,finance,investmentconsultantorotherprofessional;norismeantriatmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorsaresultofusingorrelyingontheinformationintheWorldOilOutlook.tionofgeographicalentitiesintheWorldOilOutlook,andtheuseandorarea,orofitsauthorities,orconcerningtheexploration,exploitation,nt,treaty,laworothertexts;orexpressinganylegalopinionsorhavingFigure1.2Worldpopulationtrends,1990-2045millionsSource:UN,OPEC199019952000200520102015OECD1071.291116.931158.631200.741244.321285.06LatinAmerica324.09353.11380.91405.74428.44450.88MiddleEast&Africa533.14606.72686.69777.65886.141006.39India870.45964.281059.631154.641240.611322.87China1153.701218.141264.101304.891348.191393.72OtherAsia767.70852.81936.311015.561088.701161.17OPEC253.41286.56321.63361.20410.10461.95RestoftheWorld337.96339.55335.70332.03332.95337.95Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuraofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitstheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWotexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.2020202520302035204020451317.851336.291350.781362.481369.451371.54474.63491.52507.68521.51532.58540.661137.651278.851430.021587.181748.821912.161396.391454.611514.991567.801611.681645.861424.931424.381415.611399.551377.561349.761230.581300.701368.341430.481486.241534.97509.43558.12609.34660.48711.51761.71342.41339.84341.05340.93340.77340.59WorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentcreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoanyactionordeessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesintheonwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,t199019952000200520102015202020205001,0001,5002,0002,500OECDLatinAmericaMiddleEast&AfricaChinaOtherAsiaOPECmillionsusiness,finance,investmentconsultantorothertlook,theOPECSecretariatmakesnowarrantiesorttributabletoanyactionordecisiontakenasaresultofgeographicalentitiesintheWorldOilOutlook,andterritoryorarea,orofitsauthorities,orconcerningationsunderanyagreement,treaty,laworother520102015202020252030203520402045mericaMiddleEast&AfricaIndiasiaOPECRestoftheWorldFigure1.3Urbanizationrateforselectedregions,2000-2045%Source:UN,OPEC200020052010201520202025OECD75.7777.6079.0880.0481.0382.07LatinAmerica74.3476.1077.6879.1280.4481.69MiddleEast&Africa34.1135.4537.1438.9440.8542.95India27.6729.2430.9332.7834.9337.38China35.8842.5249.2355.5061.4366.48OtherAsia35.4737.8240.3542.6644.9547.25OPEC55.5258.5261.5964.2866.6368.89Non-OECD39.8842.6845.6048.3651.0353.51World46.6549.0851.5753.8456.0858.17Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccurausingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOPECexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.203020352040204583.2184.3985.5986.7682.8984.0485.1486.1945.2847.7950.4453.1540.1443.1746.3749.6070.6373.9276.4478.3249.6552.1154.6257.1971.0272.9274.6776.3955.8958.1860.4262.5960.2162.2164.1766.09heWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmeilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariayorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithorattributabletoanyactiononecessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinonwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,t200020052010201520202025203020352535455565758595OECDNon-OECDLaMiddleEast&AfricaIndiaChOtherAsiaOPECW%siness,finance,investmentconsultantorotherook,theOPECSecretariatmakesnowarrantiesorributabletoanyactionordecisiontakenasaresultoffgeographicalentitiesintheWorldOilOutlook,andtheoryorarea,orofitsauthorities,orconcerningtheunderanyagreement,treaty,laworothertexts;or52030203520402045on-OECDLatinAmericadiaChinaPECWorldFigure1.4Long-termGDPgrowthratesbycomponents,2021–2045%p.a.Source:OPECLabourproductivityWorking-agepopulationParticipationrateNon-OECD3.120.370.23OECD1.39-0.090.29World2.450.210.24Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinfootherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshawarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilitdecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorotherenergyagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.EmploymentrateGDPgrowth0.093.810.071.660.052.96ainedintheWorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finaofanykind.WhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithoOutlook.nddonotnecessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographtheexpressionofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountrytilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyingprobativelegalvalueinanyproceedings.Non-OECDOECD-101234EmploymentrateParticipationrateWorking-agepopulationLabourpro%p.a.advicefrombusiness,finance,investmentconsultantorintheWorldOilOutlook,theOPECSecretariatmakesnoisinginconnectionwithorattributabletoanyactionoredesignationofgeographicalentitiesintheWorldOilegalstatusofanycountry,territoryorarea,orofitsinterpretingormodifyinganylegalobligationsunderanyCDWorld-agepopulationLabourproductivityGDPgrowthFigure1.5Sizeofmajoreconomies,2015–2045$(2017PPP)trillionSource:OPEC20152016201720182019202020212022202320242025OECDAmericas23.4223.8124.3525.0425.5424.5025.8726.6927.2727.8228.37OECDEurope23.2623.7524.5025.0325.4624.0425.5126.2826.8427.3227.78OECDAsia-Pacific8.718.869.069.209.288.999.269.489.679.809.93India7.197.838.358.919.348.739.4410.1110.7211.3712.08China17.3418.5319.8121.1522.4122.9124.7726.0327.3328.7330.22OtherAsia10.4610.9411.5012.0712.5812.2612.7313.2813.8514.4415.09OPEC6.106.196.176.176.145.805.996.296.486.666.84RestoftheWorld17.6317.7918.2518.7519.1718.4519.4119.4619.9220.4220.93Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformainvestmentconsultantorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.WhilstWorldOilOutlook,theOPECSecretariatmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensivordamagearisinginconnectionwithorattributabletoanyactionordecisiontakenasaresultofusingorrelyingontheinformTheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsentitiesintheWorldOilOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanofanycountry,territoryorarea,orofitsauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizconstruedasinterpretingormodifyinganylegalobligationsunderanyagreement,treaty,laworothertexts;orexpressingany201520172019202120232025202010203040506070OECDAmericasOECDOtherAsiaOPEC$(2017PPP)trillion202620272028202920302031203220332034203520362037203820392040204128.9129.4530.0330.6331.2531.8932.5533.2333.9234.6235.3436.0736.8137.5638.3239.1028.2328.6529.0629.4629.8530.2330.6130.9731.3431.6932.0532.4032.7633.1233.4833.8410.0610.1810.3110.4410.5710.7010.8210.9511.0711.2011.3211.4511.5711.6911.8111.9212.8313.6214.4915.4216.4117.4718.5919.7721.0122.3123.6625.0826.5728.1129.7231.3931.7633.3234.9036.4838.0639.6241.1842.7244.2645.7947.3148.8350.3551.8553.3554.8315.7716.4717.1817.9018.6319.3720.1220.8721.6322.3923.1623.9324.7025.4826.2527.037.047.257.487.717.968.218.478.749.029.309.609.9010.2210.5410.8811.2321.4622.0122.5923.1923.8024.4425.0925.7626.4527.1627.8828.6229.3830.1630.9631.78ldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,enchmarkofanykind.Whilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedinthey,relevanceorcomprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossusingorrelyingontheinformationintheWorldOilOutlook.sarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicaltimplytheexpressionofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusefining,marketingandutilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeothertexts;orexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.20192021202320252027202920312033203520372039204120432045OECDAmericasOECDEuropeOECDAsia-PacificIndiaChinaOtherAsiaOPECRestoftheWorld)trillion204220432044204539.8840.6741.4842.2934.2134.5834.9535.3212.0312.1512.2612.3733.1234.9136.7838.7156.2957.7359.1460.5327.8028.5729.3330.0911.5911.9712.3612.7732.6333.5134.4235.37ss,finance,tainedintheon,orforanylossographicalgthelegalstatusshallbeFigure1.6Distributionoftheglobaleconomy,2021and2045%Source:OPEC20452021OECDAmericas15.81%19.45%OECDEurope13.21%19.18%OECDAsia-Pacific4.62%6.96%China22.63%18.63%OtherAsia11.25%9.58%India14.47%7.10%OPEC4.78%4.78%RestoftheWorld13.23%14.60%Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformafrombusiness,finance,investmentconsultantorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,theOPECSecretariatmakesnowarrantiesorrepreassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnectionwithrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsdesignationofgeographicalentitiesintheWorldOilOutlook,andtheuseandpresentationofdataandothermaterials,donoand/oritsMemberCountriesconcerningthelegalstatusofanycountry,territoryorarea,orofitsauthorities,orconcerningthpetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyinganylegexpressinganylegalopinionsorhavingprobativelegalvalueinanyproceedings.2045202116%19%13%19%5%7%23%19%11%10OECDAmericasOECDEuropeOECDAsia-PacificChinRestoftheWorldOECDrldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicemarkorinputdatatoabenchmarkofanykind.Whilstreasonableeffortshavebeenmadetomakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andagearisinginconnectionwithorattributabletoanyactionordecisiontakenasaresultofusingorssarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.Thetaandothermaterials,donotimplytheexpressionofanyopinionwhatsoeveronthepartofOPECsauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitsrpretingormodifyinganylegalobligationsunderanyagreement,treaty,laworothertexts;or7%23%19%11%10%14%7%5%5%13%15%ropeOECDAsia-PacificChinaOtherAsiaIndiaOPECNon-OECDFigure1.7RealGDPpercapitain2021and2045$(2017PPP)Source:OPECGDPpercapitain2021Growth2021-2045World1689211322OECDAmerica4941221785OECDEurope4387616275OECDAsiaPacific4271216957LatinAmerica143536184MiddleEast&Africa46922477India677617107China1715025200OtherAsia103289781OPEC117184688Russia2801310831OtherEurasia1549510856Totalsmaynotaddupduetorounding.©2022OrganizationofthePetroleumExportingCountriesDisclaimer:Thedata,analysisandanyotherinformation(the“information”)containedintheWorldOilOutlookisforinformaconsultantorotherprofessional;norismeanttobeabenchmarkorinputdatatoabenchmarkofanykind.WhilstreasonableOPECSecretariatmakesnowarrantiesorrepresentationsastoitsaccuracy,relevanceorcomprehensiveness,andassumesnowithorattributabletoanyactionordecisiontakenasaresultofusingorrelyingontheinformationintheWorldOilOutlook.TheviewsexpressedintheWorldOilOutlookarethoseoftheOPECSecretariatanddonotnecessarilyreflecttheviewsofitsWorldOilOutlook,andtheuseandpresentationofdataandothermaterials,donotimplytheexpressionofanyopinionwhatorarea,orofitsauthorities,orconcerningtheexploration,exploitation,refining,marketingandutilizationofitspetroleumorlegalobligationsunderanyagreement,treaty,laworothertexts;orexpressinganylegalopinionsorhavingprobativelegalvaWorldOECDAmericaOECDEuropeOECD010,00020,00030,00040,00050,00060,00070,00080,000$(2017PPP)WorldOilOutlookisforinformationalpurposesonlyandisneitherintendedasasubstituteforadvicefrombusiness,finance,investmentrkofanykind.WhilstreasonableeffortshavebeenmadetoensuretheaccuracyoftheinformationcontainedintheWorldOilOutlook,thprehensiveness,andassumesnoliabilityorresponsibilityforanyinaccuracy,errororomission,orforanylossordamagearisinginconnecmationintheWorldOilOutlook.ecessarilyreflecttheviewsofitsgoverningbodiesand/orindividualOPECMemberCountries.ThedesignationofgeographicalentitiesinteexpressionofanyopinionwhatsoeveronthepartofOPECand/oritsMemberCountriesconcerningthelegalstatusofanycountry,terrindutilizationofitspetroleumorotherenergyresources.NothingintheWorldOilOutlookshallbeconstruedasinterpretingormodifyingionsorhavingprobativelegalvalueinanyproceedings.WorldOECDAmericaOECDEuropeOECDAsiaPacificLatinAmericaMiddleEast&AfricaIndiaChinaOtherAsiaOPECRussiaOtherEurasia010,00020,00030,00040,00050,00060,00070,00080,000Growth2021-2045GDPpercapitain2021$(2017PPP)usiness,finance,investmentdintheWorldOilOutlook,thesordamagearisinginconnectionnofgeographicalentitiesinthealstatusofanycountry,territoryasinterpretingormodifyingany