The market is expected to tighten into Q3 and early Q4, with non-Opec+ (non-DOC) production growth slowing. While not calling a peak, Mr Al Ghais said the slowdown is visible, and hinted at further ...

The global urbanisation rate is also expected to rise to 68 per cent from 58 per cent during the period, resulting in about 1.9 billion people moving to cities by 2050, Opec said.