Outlook 2025: Oil is vital to our global energy futures

The world needs to reduce emissions but must do so while providing affordable and reliable energy to meet rising global demand

Realistic, equitable and inclusive are three key words central to evolving future global energy pathways. We need to be realistic about what each form of energy can provide, especially in terms of security, affordability, availability and reducing emissions. We need to provide for equitable outcomes that consider the circumstances of all peoples across the world. And we need to be inclusive, ensuring all voices are heard. Oil is not only a realistic, equitable and inclusive fuel source, it is also vital to our global energy futures. The term ‘futures’ is plural, because energy needs and realities vary significantly across the world. Indeed, there is neither a one-size-fits-all solution to me