[Global Issues] How will the Saudi Arabia-Iran rivalry influence global oil and gas markets in the future?
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Weekend News Update
Before we get started on this opinion piece, I would like to share two of the latest new stories about OPEC World Oil Outlook 2024 this week.
OPEC released the highly anticipated 2024 OPEC World Oil Outlook (WOO) at the ROG.E conference in Rio de Janeiro, Brazil. This is the flagship annual publication of OPEC’s outlook on global oil markets going forwaard, including a detailed review and assessment of the medium- and long-term prospects.
For a broader commentary and critique of the latest WOO 2024, CNBC writer Natasha Turak frames the OPEC outlook within the context of global energy transition strategies. For example, “It’s led some in the market to ask the question: Have we officially reached ‘peak oil’? Has demand growth hit its apex, and is it just downhill from here?”
