Oil, gas tol account for more than half of world's energy mix at least until 2050 — OPEC

Oil, gas tol account for more than half of world's energy mix at least until 2050 — OPEC Demand for oil and gas will continue to grow significantly amid strong demand for reliable and affordable energy sources, OPEC saidMOSCOW, June 18. /TASS/. The share of oil and gas in the global energy mix will exceed 50% from 2025 to 2050, while the share of oil alone will be just under 30% by 2050, the Organization of Petroleum Exporting Countries (OPEC) said in its World Oil Outlook. OPEC expects demand for all types of fuel, except coal, to grow through 2050. The report notes that demand for renewable energy sources (RES) will rise to 99.1 million barrels of oil equivalent (boe) per day from 47.8 million boe per day in 2025, nearly twice above the current level. At the same time, solar and wind power will account for the majority of renewable energy. The share of renewable energy in the global energy mix will also increase from 15.3% in 2025 to 25.9% in 2050 but will still be lower than that of oil. Demand for oil and gas will continue to grow significantly amid strong demand for reliable and affordable energy sources, OPEC said. According to the organization's forecast, demand for oil will increase by 18.6 million boe per day by 2050, and demand for natural gas will increase by 19.3 million boe per day. The report also notes that demand for nuclear energy will continue to grow and, by 2050, will account for about 6.7% of the global energy mix, compared with 4.8% in 2025. 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