In the release of its latest Strategic Plan, Petrobras presented a graph suggesting that global oil demand will drop significantly in the coming years: from 101 million barrels per day (bpd) to 64 million bpd by 2049. In contrast, Brazil is expected to see a modest increase, rising from 2.3 million bpd to 2.5 million bpd over the next 25 years. These figures may indicate a global shift toward energy transition, as well as the potential for oil prices to rise in the future, which could prompt investors to seek alternative options.
It’s important to note that Brazil stands out as one of the few countries capable of increasing investment in the oil and gas industry while prioritizing sustainability. This is largely due to technologies developed and implemented exclusively by Petrobras, such as Carbon Capture, Utilization, and Storage (CCUS). Oil and gas will remain, and continue to be, a crucial component of Brazil’s energy agenda, alongside shipbuilding and other essential infrastructure activities for its energy sector.
Petrobras relies on its own data as well as figures from the National Energy Balance, as shown in the image below. What’s your take on this? What do you think the implications of this decline might be for our market?
Oil demand in Brazil and world
