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1. • • After a steep decline due to COVID-19, oil demand increased to pre-pandemic levels in 2023 at 101.7 million barrels per day (MMb/d). However, growth may not last long, as peak demand is projected to materialize before 2030 across our four bottom-up energy transition scenarios.
     www.mckinsey.com/industries/oil-and-gas/our-insights/global-energy-perspective-2023-oil-outlook

     Global Energy Perspective 2023: Oil outlook | McKinsey

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   Will oil demand rise in 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.

   Growth in global oil demand is set to slow significantly by 2028

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

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   Will global oil demand shrink in 2028?

   • Birol added that last year’s energy crisis had hastened the shift to cleaner sources of energy. The agency expects global oil demand to reach nearly 106 million barrels per day in 2028. But the rate of growth will “shrivel” from the current 2.4 million barrels per day to just 400,000 in five years’ time.

   Oil demand could peak this decade, IEA says | CNN Business

   www.cnn.com/2023/06/14/energy/global-oil-demand-peak-this-decade/index.html

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   Will combustible fuels increase oil demand in 2028?

   • Crucially, however, demand for oil from combustible fossil fuels – which excludes biofuels, petrochemical feedstocks and other non-energy uses - is on course to peak at 81.6 mb/d in 2028, the final year of our forecast. Growth is set to reverse after 2023 for gasoline and after 2026 for transport fuels overall.

   Executive summary – Oil 2023 – Analysis - IEA

   www.iea.org/reports/oil-2023/executive-summary

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   Will global oil demand peak in the next few years?

   • Here's why Global oil demand is projected to peak in the next few years even as some major energy companies announce plans to reinvigorate their fossil fuel businesses. The world’s appetite for oil is still rising, the International Energy Agency said in a report Wednesday, but annual growth is expected to slow to just 0.4% by 2028.

   Oil demand could peak this decade, IEA says | CNN Business

   www.cnn.com/2023/06/14/energy/global-oil-demand-peak-this-decade/index.html

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   Will world oil demand grow in 2022-28?

   • Based on existing policy settings, growth in world oil demand is set to slow markedly during the 2022-28 forecast period as the energy transition advances. While a peak in oil demand is on the horizon, continued increases in petrochemical feedstock and air travel means that overall consumption continues to grow throughout the forecast.

   Executive summary – Oil 2023 – Analysis - IEA

   www.iea.org/reports/oil-2023/executive-summary

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   Which sector will drive global oil demand growth in 2022?

   • The petrochemical sector will remain the key driver of global oil demand growth, with liquified petroleum gas (LPG), ethane and naphtha accounting for more than 50% of the rise between 2022 and 2028 and nearly 90% of the increase compared with pre-pandemic levels.

   Executive summary – Oil 2023 – Analysis - IEA

   www.iea.org/reports/oil-2023/executive-summary

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

   www.iea.org › news › growth-in-global-oil-demand-is

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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.

4. www.mckinsey.com › industries › oil-and-gasGlobal Energy Perspective 2023: Oil outlook | McKinsey

   www.mckinsey.com › industries › oil-and-gas

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   Jan 24, 2024 · After a steep decline due to COVID-19, oil demand increased to pre-pandemic levels in 2023 at 101.7 million barrels per day (MMb/d). However, growth may not last long, as peak demand is projected to materialize before 2030 across our four bottom-up energy transition scenarios.

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     IEA Warns Global Oil Demand Growth 'Slowing Sharply' as China Cools

     Sep 12, 2024

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     BP Predicts Demand For Oil Will Peak Next Year

     Jul 10, 2024

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     Peak oil demand could be reached by 2030: report

     Nov 8, 2023

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6. www.bbc.com › future › articleIs the decline of oil in sight? - BBC

   www.bbc.com › future › article

   Dec 4, 2023 · The IEA's projections for global oil demand show oil use increasing in the next few years – but growth slowing towards the end of the decade (Source: IEA Oil 2023)

7. www.iea.org › reports › oil-2023Executive summary – Oil 2023 – Analysis - IEA

   www.iea.org › reports › oil-2023

   • Cached

   While a peak in oil demand is on the horizon, continued increases in petrochemical feedstock and air travel means that overall consumption continues to grow throughout the forecast. We estimate that global oil demand reaches 105.7 mb/d in 2028, up 5.9 mb/d compared with 2022 levels.

8. www.cnn.com › 2023/06/14 › energyOil demand could peak this decade, IEA says | CNN Business

   www.cnn.com › 2023/06/14 › energy

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   Jun 14, 2023 · The IEA said it expected investment in oil and gas exploration and production to hit $528 billion in 2023, its highest level since 2015 and an 11% increase on last year’s figure.

9. www.iea.org › reports › oil-2023Oil 2023 – Analysis - IEA - International Energy Agency

   www.iea.org › reports › oil-2023

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   Jun 14, 2023 · Investment in clean energy is accelerating at a faster rate than for fossil fuels, helping bring peak oil demand into view. Oil 2023, the IEA’s medium‑term outlook, provides a comprehensive overview of evolving oil supply and demand dynamics through to 2028.

10. www.oecd-ilibrary.org › energy › oil-2023_92b4f4b6-enOil 2023 : Analysis and Forecast to 2028 | Market Report ...

    www.oecd-ilibrary.org › energy › oil-2023_92b4f4b6-en

    • Cached

    Investment in clean energy is accelerating at a faster rate than for fossil fuels, helping bring peak oil demand into view. Oil 2023, the IEA’s medium‑term outlook, provides a comprehensive overview of evolving oil supply and demand dynamics through to 2028.