Overview

• ExxonMobil projects global oil demand to remain above 100 million barrels per day through 2050.
• The report anticipates oil and natural gas will constitute over half of the world's energy mix by mid-century.
• Developing nations' rising energy needs are expected to drive a 15% increase in global energy use.
• Renewables will grow but won't significantly dent fossil fuel dominance, according to ExxonMobil.
• Exxon warns that underinvestment in oil production could lead to severe supply shocks and economic crises.