Global peak oil demand expected before 2030, driven by clean energy transition, with emerging markets growth.

From Investing.com: 2024-05-27 06:12:56

Global demand for oil is expected to peak before 2030 due to the clean energy transition, with oil and coal’s share in the energy supply decreasing to 73%. Goldman Sachs predicts a higher oil demand of 108.5 million barrels per day by 2030, with peak demand at 110 mb/d by 2034. Emerging markets in Asia will drive oil demand growth. Stagnation in electric vehicle sales could lead to increased oil demand towards 113 mb/d by 2040. Goldman Sachs forecasts an elevated oil price range of $75 to $90 per barrel due to constrained supplies and reduced capital expenditures.



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