world energy demand and supply

To summarize the outlook for all major demand sectors, overall growth in global energy demand will average 1.3 percent per year to 2030. Driving this growth will be the increasing power generation and transportation needs around the world.

That global demand will be met by a variety of energy types as shown on the chart. Fossil fuels will continue to provide close to 80 percent of energy supplies over the outlook, with oil and gas accounting for close to 60 percent.

Oil demand is expected to increase at 1.2 percent per year, underpinned by transportation demand. Gas will be the fastest-growing large fuel source, reflecting its advantages as an efficient, clean-burning energy for power generation. Demand for coal will increase significantly as well, driven by the rise in electricity demand in developing countries. Nuclear will expand rapidly, primarily after 2020. In total, renewables are projected to increase at 1.5 percent per year on average to 2030. This includes a mix of fuels such as biomass (wood, charcoal, dung) — growing slowly — and wind, solar and biofuels — increasing rapidly.

Even with significant efficiency gains, the energy used by the billions of people around the world is growing. Meeting the growing need for affordable, reliable energy supplies through 2030 will not be easy or automatic. Access to resources, huge investments, technology advances and sound energy markets — including international trade — are critical.

For the most prominent worldwide energy source today — oil — an effective combination of access, investment, technology and trade is essential to reliable supplies. A more detailed discussion on the supply outlook for oil and other liquid fuels follows.