BP predicts higher oil and gas demand

BP has raised its forecasts for oil and gas demand, suggesting the global net zero target for 2050 will not be met and highlighting a slowdown in the transition to clean energy.

The energy company’s closely watched annual outlook report has estimated that oil use is on track to hit 83m barrels a day in 2050, a rise of 8% compared with its previous estimate of 77m barrels a day.

The current trajectory of the energy transition means natural gas demand could hit 4,806 billion cubic metres a year in 2050, BP said, up 1.6% from its previous estimate of 4,729 billion cubic metres.

Click here to read the full article
Source: The Guardian

—

If you have any questions or thoughts about the topic, feel free to contact us here or leave a comment below.