Fossil Energy – Demand Outlook
Aker BP’s Markets & Strategic Insights team, led by Jostein Magerøy and Chief Economist Torbjorn Kjus, projects that global oil demand will continue to grow, reaching 112 million barrels per day by 2035.
In Aker BP’s base case, global oil demand is expected to increase from roughly 105 million barrels per day today to approximately 112 million barrels per day in 2035. This equates to an average annual rise of about 0.7 million barrels per day.
It is the first time Aker BP publish a long-term oil demand outlook. By publishing a quantified base case, Aker BP contributes to the strong analytical tradition in the industry, complementing peers’ scenario work by openly sharing a comprehensive longterm demand study.
The work is conducted by Chief Economist Torbjørn Kjus, which leads the company’s energy market forecasting efforts, and the Markets & Strategic Insights team led by Jostein Magerøy.
