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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 ...
- Oil 2021 – Analysis - IEA - International Energy Agency
In the absence of more rapid policy intervention and...
- Oil 2021 – Analysis - IEA - International Energy Agency
Nov 2, 2023 · Demand, on the other hand, is rising. J.P. Morgan Research forecasts that world oil demand will reach 106.9 mbd by 2030 — an increase of 5.5 mbd from 2023 levels. This is underpinned by population growth and rising energy consumption in developing nations, outweighing the energy efficiency measures being undertaken in developed economies.
- J.P. Morgan
Apr 16, 2021 · The transport sector is the largest consumer of crude oil, but the wider adoption of electric cars will undermine demand, according to Goldman Sachs, and it could peak by 2026. As for a return of ...
Jul 18, 2023 · The International Energy Agency, established by the Organization for Economic Co-operation and Development in the 1970s to provide energy data and policy advice, predicted that demand for oil for transportation would peak in 2026 as a result of electric-vehicle (EV) adoption, biofuel growth, and improved fuel economy. It predicted increases in demand in all sectors would slow from 2.4 million ...
3 days ago · After the peak, the IEA said, the reduction in oil demand will be gradual through the subsequent decade, based on countries’ current stated policies. That makes achieving the goal of net-zero ...
Mar 14, 2024 · Global oil demand is forecast to rise by a higher-than-expected 1.7 mb/d in 1Q24 on an improved outlook for the United States and increased bunkering. While 2024 growth has been revised up by 110 kb/d from last month’s Report, the pace of expansion is on track to slow from 2.3 mb/d in 2023 to 1.3 mb/d, as demand growth returns to its historical trend while efficiency gains and EVs reduce use.
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Mar 17, 2021 · In the absence of more rapid policy intervention and behavioural changes, longer-term drivers of growth will continue to push up oil demand. As a result, by 2026, global oil consumption is projected to reach 104.1 mb/d. This would represent an increase of 4.4 mb/d from 2019 levels. Oil demand in 2025 is set to be 2.5 mb/d lower than was ...
