Assessments

An oil tanker sails on Maracaibo Lake in Maracaibo, Venezuela, on March 15, 2019. OPEC'S relevance will slowly decline over the next two decades as the global transition from fossil fuels accelerates and oil's dominance in the transportation sector is diminished.

OPEC'S relevance will slowly decline over the next two decades as the global transition from fossil fuels accelerates and oil's dominance in the transportation sector is diminished.

As Oil's Importance Fades, So Will OPEC

Highlights

Angola

Nigeria

United States

Algeria

Iraq

Kuwait

Qatar

Saudi Arabia

Energy

OPEC'S relevance will slowly decline over the next two decades as the global transition from fossil fuels continues to accelerate and oil's dominance in the transportation sector is diminished by alternatives, including electric vehicles and potentially hydrogen, resulting in a more turbulent oil market.

ASSESSMENTS

As Oil's Importance Fades, So Will OPEC

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