News Release
Middle East disruption could cut global oil demand 20% and gas 10% by 2050 as energy security drives shift to independence
Prolonged disruption to Middle East energy supplies could accelerate a structural shift in global energy systems, halving oil and gas import dependence by 2050 and reducing oil demand by 20% and gas demand by 10% relative to the base case. As countries prioritise energy security, demand is increasingly met through electrification, renewables, coal and nuclear, while reliance on globally traded fuels declines, according to Wood Mackenzie.
