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  1. www.mckinsey.com › industries › oil-and-gasGlobal oil supply-and-demand outlook to 2040 | McKinsey

    Feb 26, 2021 · Long-term up to 2040. Long-term equilibrium oil prices have decreased by $10 to $15/bbl compared with pre-COVID-19 outlooks, as driven by a flattening cost curve and lower demand. Under an OPEC-control scenario, in which OPEC maintains its market share, we see a $50 to $60/bbl equilibrium price range in the long term, fueling 10 to 11 MMb/d US ...

  2. www.mckinsey.com › ~ › mediaGlobal oil outlook to 2040 - McKinsey & Company

    Feb 9, 2020 · After more than 30 years of stable growth of more than 1 percent per year, oil-demand growth slows in the late 2020s and peaks in 2029. Various energy-transition drivers could cause peak to occur six to ten years earlier By 2040, exploration and production companies need to add 38 MMb/d of new crude production from unsanctioned projects to

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  4. www.iea.org › news › growth-in-global-oil-demand-isGrowth in global oil demand is set to slow significantly by 2028

    Jun 14, 2023 · The Oil 2023 medium-term market report forecasts that based on current government policies and market trends, global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day (mb/d) – supported by robust demand from the petrochemical and aviation sectors. Despite this cumulative increase, annual demand growth is expected to shrivel from 2.4 mb/d this year to ...

  5. www.iea.org › data-and-statistics › chartsWorld oil supply and demand, 1971-2018 – Charts – Data ...

    Jul 29, 2021 · Oil statistics 2019, World oil supply and demand, 1971-2018.

  6. www3.eia.gov › outlooks › steoShort-Term Energy Outlook Supplement: Developments in Global ...

    This combination of expected demand growth and concerns over supply resulted in Brent crude oil spot prices averaging $67 per barrel (b) during the first 10 trading days of January 2020. By late January, however, easing geopolitical tensions and reduced oil demand as a result of COVID-19 responses, initially in China, began to exert downward

  7. www.spglobal.com › en › research-insightsMoving Mountains: COVID-19 and Peak Oil Demand - S&P Global

    The weaker oil demand forecast averages out to a drop of 2.5 million b/d over 2020-2050. However, while the outlook for global oil demand has shifted lower, the trajectory of year-to-year growth and the projected peak in oil demand near 2040 remains similar to the pre-COVID-19 outlook.

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  9. www.iea.org › reports › oil-2021Oil 2021 – Analysis - IEA - International Energy Agency

    Mar 17, 2021 · Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. All of this demand growth relative to 2019 is expected to come from emerging and developing economies, underpinned by rising populations and incomes. Asian oil demand will continue to rise strongly, albeit at a slower pace than in the recent past.