World Energy Outlook 2019
The World Energy Outlook series is a leading source of strategic insight on the future of energy and energy-related emissions, providing detailed scenarios that map out the consequences of different energy policy and investment choices.
This year's edition updates the outlooks for all fuels, technologies and regions, based on the latest market data, policy initiatives and cost trends.
In addition, the 2019 report tackles some key questions in depth:
- What do the shale revolution, the rise of liquefied natural gas, the falling costs of renewables and the spread of digital technologies mean for tomorrow's energy supply?
- How can the world get on a pathway to meet global climate targets and other sustainable energy goals?
- What are the energy choices that will shape Africa's future, and how might the rise of the African consumer affect global trends?
- How large a role could offshore wind play in the transformation of the energy sector?
- Could the world's gas grids one day deliver low-carbon energy?
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Outlook for oil
Global oil demand continues to grow in the Stated Policies Scenario, but it loses momentum over the next two decades. From 97 million barrels per day (mb/d) in 2018, demand rises by around 1 mb/d on average every year to 2025. There is a material slowdown after 2025, but this does not lead to a definitive peak in oil use. Demand increases by 0.1 mb/d each year on average during the 2030s and ends up at 106 mb/d in 2040. By contrast, oil demand peaks very soon in the Sustainable Development Scenario and falls back to 67 mb/d by 2040, a level last seen in 1990.
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