MACRO & POLICY
OPEC: Global Energy Demand to Rise ~23% by 2050A · FULL TRANSLATION
# OPEC# energy demand# energy transition# oil price
Key Points
- An OPEC report projects global energy demand rising about 23% by 2050
- It signals fossil-fuel demand will persist long term
- A medium-term variable for Japan's energy imports and global oil prices
Analysis
Citing an OPEC report, JETRO notes global energy demand is projected to rise about 23% by 2050. The message: even as renewables grow fast, fossil-fuel demand will persist for the foreseeable future, and the energy transition is slower than many assume. For Japan, which imports nearly all its energy, that means medium-term price pressure won't fade; for Taiwanese readers, it is key context for the global energy and inflation picture.