The Organization of the Petroleum Exporting Countries (OPEC) reaffirmed its optimistic outlook for global oil demand over the medium and long term on Thursday, stating that there is currently no indication that oil demand has reached its peak.
In its 2026 World Oil Outlook, OPEC projected that global oil demand will rise from 105.1 million barrels per day (bpd) in 2025 to 113.3 million bpd by 2030, and further climb to 124.1 million bpd by 2050. The report noted that the bulk of demand growth in the coming decades will come from Asia, the Middle East, Africa, and Latin America. Among these, India is expected to be the single largest contributor, with demand increasing by 8.1 million bpd over the entire forecast period.
OPEC's bullish forecast stands in sharp contrast to projections from other institutions, such as the International Energy Agency (IEA). The IEA had previously warned that the impact of Middle East conflicts on global oil demand would be far more severe than earlier estimated, projecting a reduction of 1.1 million bpd in global daily oil consumption this year.
As shipping through the Strait of Hormuz gradually resumes normal operations, OPEC members including Kuwait have begun implementing plans to swiftly bring crude production back to previous levels. Market watchers will be closely monitoring whether global markets are able to absorb the returning supply.
OPEC projects long‑term oil demand growth, led by Asia
OPEC projects long‑term oil demand growth, led by Asia
OPEC projects long‑term oil demand growth, led by Asia
Film shooting locations in Shanghai have become new must-sees for tourists as the Shanghai International Film Festival is currently underway, fueling cultural tourism in the city.
The places include the century-old Wukang Mansion, famed as a cultural landmark in Shanghai, which can be found in many films.
The building is now a tourist favorite, with visitors taking snapshots or posing for pictures from all angles.
Not far from the mansion, a small post office has benefited from the popularity of the structure, with flocks of people paying a visit and buying cultural innovation products here.
Previously, the post office earned around 100,000 yuan (about 14,771 U.S. dollars) every year, but now its revenue has increased to 300,000 to 500,000 yuan in a month in peak season period, according to its staff.
"Many people including enthusiasts and tourists would like to write down their experiences, and mail the postcards to their friends. It has become an emotional post house in the city. It's also a preferred hub for some famous film and television works and stars to hold events, and one of the shooting locations in some works," said Zhu Lingjing, a post office clerk.
Thanks to its frequent appearance in films, the Wutong block where the Wukang Mansion is located has also become a must-visit destination for tourists. From morning to evening, cafes and stores along the street bustle with visitors.
Besides the community, Zhapu Road Bridge, another film shooting location in Shanghai, has also attracted large numbers of visitors. An immersive space themed around the film "Hideaway: The Dossiers" is set to open soon to the public in the block near the bridge.
"Through this collaboration with the film 'Hideaway: The Dossiers,' we hope to transform the classroom scenes depicted in the film into a real-world salon for Shanghai-style culture. We also hope that movies screened in cinemas can be brought closer to people's daily lives in a way that is tangible, accessible and engaging," said Ji Lingjun, manager of the immersive space.
Film shooting locations become new must-sees in Shanghai
