BNO - OPEC sees global oil demand not peaking before 2040

The world's appetite for crude oil won't reach its peak for another 20 years, OPEC says in a far more optimistic forecast of the world's post-coronavirus demand for oil than many other forecasts.In its 2020 World Oil Outlook, OPEC forecasts global oil demand will keep rising until around 2040, when it will plateau at 109.3M bbl/day, ~10% above its 2019 level.Still, the group's 2040 demand figure was more than 1M bbl/day below last year's forecast of 110.6M bbl/day.The OPEC annual report offers a brighter vision for oil and gas than BP's recent forecast, which said oil demand may have already peaked, prompting it to plan to invest heavily in renewable energy over the coming years.ETFs: [[USO]], [[XLE]], [[UCO]], [[XOP]], [[VDE]], [[GUSH]], [[OIH]], [[BGR]], [[ERX]], [[BNO]]

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OPEC sees global oil demand not peaking before 2040