The launch of Opec’s 2026 World Oil Outlook (WOO) on 18 June was overshadowed by the US and Iran signing a deal to end hostilities. The disruption to oil and gas supplies caused by that conflict has sparked speculation that it will drive renewed investment into clean-energy alternatives. But Opec is more bullish than ever regarding the long-term oil outlook, revising up its base case for 2050 up from 122.9mn b/d to 124.1mn b/d. It sees “no peak in oil demand on the horizon.”