Under current policies, oil and natural gas production will continue growing through 2050 amid rising global energy consumption driven by developing Asian economies, according to the latest long-term projections from the U.S. Energy Information Administration (EIA).

In its International Energy Outlook 2021(IEO2021) report published Wednesday, the agency predicted a nearly 50% increase in global energy use from 2020 to 2050. This is primarily a result of projected economic and population growth for nations outside of the Organization for Economic Cooperation and Development (OECD), particularly in non-OECD Asia.

Growth in both oil and natural gas production is expected to coincide with the rising energy demand, according to EIA.

Global emissions also rise through 2050 in the...