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Growth in energy demand to slow

June 7, 2016

Latest research from McKinsey Energy Insights suggests that energy demand growth will decelerate to 0.7% per annum through to 2050, a rate well below mainstream base case perspectives, including McKinsey’s previous forecasts. The analysis shows growth in demand for oil will slow significantly – to 0.4 per cent per annum through 2050. McKinsey sees a possible case for a peak in oil demand around 2030.

McKinsey Energy Insight’s latest analysis shows that despite an expected increase in global population of around 36%, alongside a doubling in GDP by 2050, a number of structural shifts in the level and composition of economic growth as well as energy sector dynamics will depress global energy demand growth.

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