Global primary energy demand is projected to increase by 23% between 2025 and 2050, driven mainly by population growth, urbanization , and economic expansion in developing countries, according to OPEC’s World Oil Outlook 2026.
The report forecasts global energy demand rising from 312 million barrels of oil equivalent per day (mboe/d) in 2025 to nearly 383 mboe/d by 2050.
Most of the growth is expected to come from India, other Asian economies, the Middle East, Africa, and Latin America.
Despite rapid expansion in renewable energy, OPEC projects that oil will remain the world’s largest energy source, accounting for just under 30% of the global energy mix by 2050.
Combined, oil and natural gas are expected to supply about 54% of global energy demand.