In the influential oil cartel's 2018 World Oil Outlook (WOO), the group said it expects total primary energy demand to surge around 33 percent from 2015 levels.
Driven almost entirely by developing countries — most notably India and China — demand is expected to increase at an average annual growth rate of nearly 2 percent, reaching 365 million carrels per day (bpd) in 2040.
"Energy demand in India and China in this period is forecast to increase by 22 million bpd and 21 million bpd, respectively, which is more than 50 percent of the energy demand growth in developing countries during this period," OPEC said in the report.
At present, energy market participants are increasingly concerned about a slowdown in the global economy, escalating trade tensions, emerging market countries' currency weakness and the potential fallout this could have on oil demand.
Last month, the International Monetary Fund (IMF) cut its outlook for the world economy in 2018-19 by 0.2 percentage points to 3.7 percent.