accords, however, have changed the outlook for the future of the oil and gas industry. Now, with the prospects that major economies like the United States, China Unfortunately, the volume of the world's oil consumption is an ever-growing (9) So, basing a projection upon the current rate of consumption yields a result that 11 Sep 2019 LONDON (Reuters): OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the 5 days ago But more shocks are on the horizon as the world's number one crude oil and halted or tapered air travel, worsening the demand outlook.
Global energy consumption has increased dramatically in recent years and is projected to continue to increase. By 2040 renewable energy consumption is expected to increase and will reach about 2,748 metric tons of oil. In comparison, the total renewable energy consumption totalled 35.02 metric tons of oil in 1990. Since its inception in 1983, the IEA's Oil Market Report (OMR) has become recognised as one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for OECD and selected non-OECD countries. OPEC has downwardly revised its forecast for global oil demand growth over both the medium-term and long-term. This impact is already included in the IEA’s demand projections, so any easing of the tariff burden could provide a boost to oil consumption in 2020 and a more positive outlook for oil producers
The forecast comes on top of an oil market that already fears a slowing demand for crude. The EIA cut its 2019 oil demand growth forecast by 70,000 bpd. Its 2020 forecast for global demand growth
One of the world’s most influential oil consultancies has forecast that global oil demand will peak within 20 years, as a “tectonic” shift in the transport sector towards electric cars and autonomous vehicles gathers pace. Wood Mackenzie, which works closely with companies across the energy industry, The latest forecasts predicting oil demand will peak in 2023 come from the Carbon Tracker Initiative, a London-based think tank funded by a host of anti-fossil fuel foundations seeking stricter More information. This statistic shows the projected demand for oil by world region in 2018 and 2019. For 2018, a total global demand of 99.3 million barrels of oil per day was estimated. Of that amount, almost one third goes to the Asian-Pacific and the Americas regions, respectively. According to BP forecasts, oil demand growth over the period is set to slow from around 1 million barrels per day to 400,000 bpd by 2035, when consumption will reach around 110 million bpd.
The Outlook for Energy is our long-term global view of energy demand and Oil and natural gas remain important energy sources and require significant 4 Mar 2020 Global oil demand in the first quarter of 2020 is expected to decline by the largest amount in recorded history, IHS Markit projected Tuesday