Whether humanity will continue to consume oil or whether black gold will lose its value is a dilemma that baffles large companies in this important industrial sector of the world economy.
The Financial Times published a chart including BP and Exxon’s oil demand expectations by 2050, as there appears to be a fundamental difference in the two companies’ expectations about the future of oil.
BP expects oil demand to decline in its three scenarios: Fast Energy Transition, Carbon Neutrality and New Momentum.
The energy giant expects oil consumption to remain high at 100 million barrels per day until 2030 before gradually declining to 93 million barrels per day in 2035 and then to 75 million barrels per day by 2050.
At the same time, the company expects a decrease in oil demand in the carbon neutrality scenario to 70 million barrels per day in 2035, before it reaches 20 million barrels per day by 2050.
As for the US company Exxon, against the future, it predicts the demand for crude oil until 2050, as the US company expects it to grow to 105 million barrels per day in 2050, which is higher than the current level. at 100 million barrels per day.
Source: agencies
