The Organization of the Petroleum Exporting Countries (OPEC) released its latest World Oil Outlook 2050 on Sunday, projecting a 23-percent increase in global energy demand by mid-century.
The report emphasizes that meeting this rising demand and tackling associated challenges will require a comprehensive approach leveraging all forms of energy, advanced technologies, and broad social engagement.
According to the outlook, oil will remain the largest single source of energy through 2050, accounting for just under 30 percent of the global energy mix. Combined, oil and natural gas are expected to sustain a majority share of the world's energy consumption, representing more than half of the total between 2024 and 2050.
The report highlights a stark regional divide in energy trends as nearly all of the projected growth in energy demand will come from developing countries. In contrast, energy consumption in developed nations is expected to remain flat or decline over the same period.
OPEC forecasts 23 pct rise in global energy demand by 2050
OPEC forecasts 23 pct rise in global energy demand by 2050
OPEC forecasts 23 pct rise in global energy demand by 2050
