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Modeling Long-Term Oil Demand in the Agricultural Sector

Author

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  • Fateh Belaïd
  • Mohammad Aldubyan

    (King Abdullah Petroleum Studies and Research Center)

Abstract

The agricultural sector and global food security are facing an increasing number of risks due to climate change, the increasing population size, rising energy and agricultural demands, competing demands for land for biofuel production, and the degradation of soil quality. Between 2001 and 2018, the annual consumption of food and agricultural products increased rapidly by approximately 48%, and there was twofold population growth (WEF 2021). This increase in agricultural demand has also stimulated the demand for energy products, as the agricultural sector relies heavily on specific fuels for heating, machinery, and other activities. Given the consistent increasing trend of the global population, the world will be faced with the need to feed approximately 10 billion people by 2050, or approximately 50% more food than in 2010.

Suggested Citation

  • Fateh Belaïd & Mohammad Aldubyan, 2024. "Modeling Long-Term Oil Demand in the Agricultural Sector," Methodology Papers ks--2023-mp04, King Abdullah Petroleum Studies and Research Center.
    • Handle: RePEc:prc:mpaper:ks--2023-mp04
    DOI: 10.30573/KS--2023-MP04
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    Keywords

    Agreement; Allocations; Alternative fuels; Balance;
    All these keywords.

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