BP predicts higher oil and gas demand, suggesting world will not hit 2050 net zero target

A BP platform in the North Sea. Ed Miliband is looking at ways the government could encourage drilling in the area. Photograph: Reuters

BP has raised its forecasts for oil and gas demand, suggesting the global net zero target for 2050 will not be met and highlighting a slowdown in the transition to clean energy.

The energy company’s closely watched annual outlook report has estimated that oil use is on track to hit 83m barrels a day in 2050, a rise of 8% compared with its previous estimate of 77m barrels a day.