BAKU, Azerbaijan, July 11. Global demand for oil and gas is set to rise significantly by 2050, reaffirming their role as the backbone of the world’s energy system, according to OPEC’s latest long-term energy outlook, Trend reports.
In contrast, coal demand is projected to decline sharply, as climate policies and cleaner alternatives reshape the energy landscape.
Between 2024 and 2050, global primary energy demand is expected to increase by 23%, from 308.4 million barrels of oil equivalent per day (mboe/d) to 377.8 mboe/d, or 0.8% annually on average. Almost all of this growth will come from developing countries, while energy demand in OECD nations is expected to remain flat or decline.
Oil demand is projected to rise from 94.3 mboe/d in 2024 to 112.4 mboe/d in 2050 - an increase of 18.2 mboe/d. Despite growing interest in alternative energy, oil will retain its leading role in the energy mix, accounting for just under 30% of global demand by 2050.
Natural gas is also on an upward trajectory, with demand increasing by 19.7 mboe/d - from 70 mboe/d in 2024 to 89.7 mboe/d in 2050. This surge reflects continued global demand for affordable, reliable, and relatively cleaner-burning energy, especially in Asia.
By contrast, coal demand is projected to fall sharply, from 81.8 mboe/d in 2024 to 51.4 mboe/d in 2050 - a decline of over 37%. Coal’s share in the global energy mix will shrink from 26.5% to 13.6% over the same period. This trend reflects increasing regulatory pressure and the accelerating shift toward lower-emission fuels.
Together, oil and gas will continue to account for more than half of global energy consumption through 2050, despite growing momentum behind renewable and low-carbon alternatives.
