Oil demand will plateau after 2030 but remain roughly at current levels of more than 100 million barrels per day through 2050, according to Exxon.
Oil and natural gas will still make up more than half of the world's energy mix in 2050 despite efforts to transition away from fossil fuels, according to a forecast published by. Oil demand will plateau after 2030 but remain roughly at current levels of more than 100 million barrels per day through 2050, according to
Demand for oil to make gasoline will decline over the next 25 years, but fuel for cars is only a portion of total crude consumption, according to Exxon. The majority of crude is used for manufacturing, chemical production and heavy transportation such as aviation, according to the company. This will also be the case in the future, according to the forecast.