The OPEC+ alliance, which includes countries such as Russia and Kazakhstan, will expand its share of global oil markets to 52% in 2050 from around 48% this decade as growth from rivals falters, according to the report. Concerns about outliving savings and healthcare costs are reshaping how "Peak 65" Americans and advisors approach income planning.

In its World Oil Outlook 2050 report published Thursday, the Organization of the Petroleum Exporting Countriues left its forecasts for 2025 global oil demand growth unchanged at 105 million barrels per day.

The trading slump may be confined to Shell, the biggest European energy company, but it could also be indicative of difficulties affecting others.

OPEC has excluded five of the world’s leading news organizations from covering its biennial oil seminar in Vienna, attended by the group’s ministers and senior industry executives.

Oil futures steady above $67.44 while traders await Fed and OPEC cues. Strong gasoline demand supports crude oil outlook despite tariff concerns.

OPEC+ jolted markets by announcing it would flood the market with more oil.

OPEC oil output rose in June, a Reuters survey found, led by Saudi Arabia after an OPEC+ agreement to raise production, although the increase was limited as Iraq pumped below target to compensate for earlier overproduction.

OPEC Secretary General Haitham Al Ghais joins CNBC's Dan Murphy at the group's international seminar in Vienna to discuss oil demand and the future of energy.