US oil company ExxonMobil revealed yesterday (26) that it expects oil demand to remain practically unchanged in 2050 compared to current levels, a scenario that contrasts with government estimates and those of rivals such as BP.

Data released by the US Energy Information Administration (EIA) shows that in the second quarter of 2024, crude consumption increased to 102.8 mb/d, with a further increase to 104.55 mb/d expected next year.

To this end, the US oil company predicts a drop in oil consumption for personal vehicles, in the real estate sector and for electricity generation.

But it does foresee an increase in the need for public transport or goods, as well as chemical products.

For ExxonMobil, oil and natural gas will still account for more than 50% of energy consumption in 2050.

However, the US group's estimates contrast with those of the IEA, which suggests a demand of only around 55 million barrels per day in 2050.

One of ExxonMobil's competitors, BP, expects 75 mb/d by that date.

ExxonMobil warns that without new investments in the oil industry, crude oil production would fall to 30 million barrels a day by 2030, or 70 million less than global needs, according to its estimate.

(Photo DR)