OPEC's Forecast of Peak Oil Demand: A Long Horizon Ahead
Written by Emily J. Thompson, Senior Investment Analyst
Source: Yahoo Finance
OPEC's Oil Demand Outlook: OPEC predicts a significant increase in global oil demand, expecting it to rise from 102.2 million barrels per day in 2023 to 120.1 million by 2050, contrasting with the IEA's forecast of a peak and subsequent decline by 2029. This outlook emphasizes the ongoing relevance of oil amidst the energy transition, particularly driven by emerging markets like India.
Investment Opportunities in Oil Stocks: With OPEC's bullish stance on oil demand, investors are encouraged to consider stocks such as Core Laboratories, TechnipFMC, and Tullow Oil, which show strong growth potential and favorable rankings in the market, suggesting that oil-focused investments may remain attractive in the long term.
Analyst Views on FTI
Wall Street analysts forecast FTI stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FTI is 48.50 USD with a low forecast of 40.00 USD and a high forecast of 53.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
10 Buy
1 Hold
0 Sell
Strong Buy
Current: 53.970
Low
40.00
Averages
48.50
High
53.00
Current: 53.970
Low
40.00
Averages
48.50
High
53.00
About FTI
TechnipFMC plc is a United Kingdom-based technology company, which operates in the energy industry. The Company is focused on delivering fully integrated projects, products, and services. The Company operates through two segments: Subsea and Surface Technologies. The Subsea segment manufactures and designs products and systems, performs engineering, procurement and project management and provides services used by oil and gas companies involved in offshore exploration and production of crude oil and natural gas. The Surface Technologies segment designs, manufactures and supplies technologically advanced wellhead systems and high-pressure valves and pumps used in stimulation activities for oilfield service companies and provides installation, flowback and other services for exploration and production companies. The Company operates across various countries, including the United States; Brazil; Norway; the United Kingdom; Guyana, Australia, Angola, Brazil and all other countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
