Mumbai, June 19 -- OPEC World Oil Outlook 2050 stated that global primary energy demand is set to increase from around 312 million barrels of oil equivalent per day (mboe/d) in 2025 to nearly 383 mboe/d in 2050. This is an increase of around 23% over the outlook period, or 0.8% p.a. on average. The growth will come almost entirely from developing countries and regions, led by India, Other Asia, the Middle East, Africa and Latin America. At the same time, primary energy demand in developed countries is expected to increase only marginally, or in some cases decline.
Demand for all primary fuels is set to increase in the period to 2050, except for coal. Demand for renewable energy, including biomass, solar, wind, hydro and other sources, is e...