Global oil demand is expected to hit 103.4 million barrels per day (bpd) by 2030 in BP's Current Trajectory, before falling to 83 million bpd by 2050.
bp's report last year had forecast demand peaking by 2025 at around 102 million bpd, but slowing efficiency gains have changed the picture.
If weak energy efficiency gains persist, oil demand increases to about 106 million bpd by 2035.
In its Below 2-Degrees scenario, oil demand peaks this year at 102.2 million bpd before falling to 33.8 million bpd by 2050.
In the Current Trajectory, U.S. onshore production is broadly flat at around 15 million bpd over the first half of the outlook. Brazil and Guyana see the largest increases, reaching about 5 million bpd and 2 million bpd respectively by 2035.
Full story bp sees oil demand growth until 2030 due to slowing energy efficiency gains - BIC Magazine
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