Goldman Sachs raises 2030 global oil demand forecast, predicting sustained growth until 2034.
Goldman Sachs has raised its global oil demand forecast for 2030, predicting continued growth until 2034. The bank expects oil demand to peak at 110 million bpd in 2034, followed by a long plateau till 2040, despite a potential slowdown in electric vehicle adoption. This could boost incomes of oil producers like OPEC+ and increase climate-warming emissions from fossil fuels.
May 27, 2024
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