Overview

• Under BP's Current Trajectory, global oil use reaches 103.4 million barrels per day in 2030 before sliding to 83 million by 2050.
• BP says the current path leaves emissions broadly flat to 2030 and about 25% lower by 2050, implying the world is unlikely to meet net-zero goals.
• In the Below 2-Degrees pathway, emissions fall about 90% by 2050, with oil demand peaking earlier and declining to roughly 34 million barrels per day.
• Natural gas demand rises toward about 4,800 billion cubic metres by 2040 and plateaus, while LNG exports climb to around 900 bcm by 2035 with more than half from the U.S. and the Middle East.
• Electricity consumption grows sharply and wind and solar provide over half of global power generation by 2050, even as geopolitical energy-security pressures shape national choices.