Global oil demand is set to grow for at least another decade, according to Goldman Sachs analysts, who see slowing momentum of electric vehicle sales keeping oil product demand robust until 2034. Analysts at the Wall Street bank raised their forecast of oil demand in 2030 to 108.5 million barrels per day (bpd) from 106 million bpd previously expected, in a report carried by Reuters.
Goldman Sachs now expects global oil demand to peak in 2034, at around 110 million bpd. This will be followed by years of plateau oil demand until around 2040,…Goldman Sachs: Oil Demand to Grow Until 2034
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