Oil and gas demand expected to drop as a result of Iran war disruption
“Geopolitical crises can act as powerful catalysts for long-term system change."
Analysts predict that global oil demand could drop by 20% and gas demand by 10% by 2050 as countries prioritise energy independence in light of new supply disruptions.
As countries aim to reduce their dependence on imported and volatile oil and gas supplies in light of the current US-Israel-Iran conflict, power demand is increasingly met through electrification, renewables, coal and nuclear, according to Wood Mackenzie.
