More than 700 energy professionals, innovators and thought leaders gathered in Houston in mid-May for the Enverus EVOLVE 2025 Conference. With attendees representing more than 350 companies, ranging from oil and gas producers to power generators to cloud providers, the event served as a dynamic forum for exploring the future of energy.
One presentation in particular sparked debate, piqued curiosity and provided attendees with data-driven insights on what the future holds for energy: Enverus’ 2050 Long-Term Energy Outlook. This forecast, grounded in data and demographic trends, offered a directional view of how global energy markets might evolve over the next 25 years. From oil prices to AI-driven power demand, here are the key insights that emerged.
Which Way the Winds Might Blow?
The energy sector is no stranger to volatility, and the near-term outlook remains clouded by geopolitical uncertainty. Sanctions, shifting alliances and the evolving role of countries like Iran are creating turbulence in oil markets. Enverus analysts anticipate a dip in oil prices in the short term, but the long-term trajectory points upward. As oil demand continues to rise — peaking around 2035 — prices are expected to follow suit.
A Room Full of Perspectives
The diversity of voices in the room was a powerful aspect of EVOLVE 2025. With representation from across the energy value chain and beyond, the conference fostered cross-sector collaboration. This diversity is essential as the industry navigates a complex transition, including balancing legacy infrastructure with emerging technologies and evolving consumer expectations.
The 2050 Outlook: A Slower, Smarter Energy Future
A key presentation focused on Enverus’ long-term energy outlook. The forecast paints a picture of slower growth in global energy demand. Global energy consumption grew by 250 exajoules over the past 25 years; growth is expected to slow to 140 exajoules over the next quarter-century. Why the slowdown? Demographics.
“Father Time is Undefeated:” The Demographic Drag
As one analyst put it, “Father Time is undefeated.” The global population is aging and working age population (ages 15-64) growth is slowing — both have implications for energy demand. Over the next 25 years, the working-age populace outside of Africa remains largely flat. This will put unprecedented pressure on Africa to enable, empower and engage its growing working age populace, to serve itself (and the world) by improving economic prosperity and enhancing citizens quality of life.
This matters because working-age individuals are the primary drivers of economic growth and energy consumption. As the median global age increases by five years, and as one-in-four people live in countries with declining populations, the engines of demand will shift. Economic growth will rely more on productivity and income increases driven by innovation as opposed to sheer population expansion.
Powering the Future: Renewables, Gas and Artificial Intelligence
Despite the demographic headwinds, certain sectors are poised for significant growth. Power demand, for instance, is expected to double by 2050. This surge will be enabled by the continued expansion of renewable energy and gas-fired power generation.
Oil demand will peak around 2035, but natural gas will continue to grow by playing a critical role in balancing intermittent renewable sources. Meanwhile, coal’s role will diminish, and nuclear will remain steady but limited in scale. One of the most intriguing drivers of future power demand? Artificial intelligence. By 2030, AI and data centers are projected to consume 100 terawatt-hours annually — roughly 3% of global electricity. While AI isn’t the sole driver of demand, it’s a growing piece of the puzzle, especially as digital infrastructure becomes more energy-intensive.
Forecasting With Confidence, but Not Certainty
How confident can Enverus be in these projections? While the exact path may vary, the direction is clear. The global energy demand forecast leans on stable, long-term trends like demographics and baseline energy consumption. The variability lies in how we meet that demand — whether through fossil fuels, renewables or emerging technologies.
Technological breakthroughs, regulatory shifts and geopolitical developments could all reshape the landscape. But the foundational insight remains: the world is entering a new phase of energy evolution, one defined by slower global demand growth, smarter systems and shifting demographics.
Conclusion: Navigating the Energy Transition
The Evolve Conference underscored a central truth: the energy transition is not just about fuels — it’s about people. As the global population ages and economic growth patterns shift, the energy sector must adapt. That means investing in flexible infrastructure, embracing innovation, and planning for a future where demand is shaped as much by demographics as by technology.
The Enverus 2050 outlook offers a valuable compass for navigating this uncertain terrain. While the winds may shift, the direction is set. And with collaboration, data and foresight, the industry is better equipped than ever to evolve.
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts, and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. See additional disclosures here.
