Oil
OPEC projects African oil demand to double by 2050
OPEC forecasts that Africa's oil demand will approach double digits by 2050, driven by population growth and urbanisation.
Key points
- African oil demand is projected to reach 9.2 million barrels per day by 2050.
- The continent's population is expected to expand from 1.5 billion to nearly 2.5 billion.
- The transport sector will account for nearly 60 percent of the increased oil consumption.
What happened
According to African Energy Week reporting, the Organization of the Petroleum Exporting Countries released its 20th World Oil Outlook, projecting significant growth in African energy demand through 2050. Presenting the findings in Cape Town, Dr Abderrezak Benyoucef stated that the continent's oil consumption would rise from 4.9 million barrels per day to 9.2 million barrels per day over the next quarter-century.
Why it matters
This surge is underpinned by demographic shifts, with the continental population anticipated to climb from 1.5 billion to roughly 2.5 billion by mid-century. Urban expansion and industrial growth will further accelerate fuel requirements. Transport will generate the largest share of this heightened demand, while petrochemicals, general industry, and power generation will contribute the remainder. Natural gas requirements are similarly expected to double, alongside broad increases across renewable energy sources.
What comes next
Global primary energy consumption is anticipated to increase by 23 percent overall by 2050, moving from 312 million barrels of oil equivalent per day to 383 million. Developing economies will spearhead this expansion. Meanwhile, worldwide electricity generation is projected to nearly double, supported by extensive additions of wind and solar capacity.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
