The oil major made the projections in its closely watched annual outlook as renewable power sources such as wind and solar fail to increase at a fast enough pace to keep up with the growth in global energy demand.
The world currently consumes about 100mn b/d of oil.
The report showed oil demand would be about 97.8mn barrels per day in 2035 under BP’s scenario that captures the current trajectory of the global energy system.
When net zero targets — the reduction of CO2 emissions by about 95 per cent from current levels — are factored into calculations, the projection for oil demand is 80.2mn b/d in 2035, up 10 per cent on last year’s forecast.
The oil demand projection is 76.8mn b/d by 2050 in the current trajectory.