2050 oil markets: opportunities in peak demand?

Seven technology themes can save 45Mbpd of long-term oil demand. They make the difference between 2050 oil consumption surpassing 130Mbpd and our own forecasts: for a plateau in the 2020s, then a gradual descent to 87Mbpd in 2050. This is still an enormous market, equivalent to 1,000 bbls of oil consumed per second. Opportunities abound in the transition: to deliver our seven themes, improve mobility, switch oil to gas, reconfigure refineries and ensure that the world’s remaining oil needs are supplied as cleanly and efficiently as possible.