BP – Energy Outlook, 2024

The Energy Outlook for 2024 explores two main scenarios, Current Trajectory and Net Zero, to understand the possible implications of different assumptions about the energy transition. These scenarios are not predictions but rather tools to illustrate trends and uncertainties in energy markets up to 2050. It is important to note that these scenarios are based on existing technologies and do not account for new innovations. While the probability of either scenario unfolding exactly as described is low, they provide valuable insights for bp in assessing risks and opportunities in the energy transition. The Energy Outlook is intended to contribute to the global energy system debate, but bp also considers a variety of external scenarios and analyses to inform its long-term strategy.