ExxonMobil expects global oil demand to approach current levels by 2050. Despite progress in renewable energy, global oil demand is unlikely to decline by 2050, according to US oil and gas giant ExxonMobil on August 26th. The company stated in a new report that it expects oil demand to stabilize after 2030 and remain above 100 million barrels per day until 2050, compared to global oil demand of 102.2 million barrels per day last year.