Peak oil demand still a decade away, Goldman Sachs analysts say
Investing.com -- The momentum behind the clean energy transition is now strong enough for global demand for oil to reach a high point before 2030, according to a report last October from the Paris-based International Energy Agency.and coal in the global energy supply will slip to 73% of by the end of the current decade, down from its long-held level of around 80%.However, analysts at Goldman Sachs say they are taking a"more bullish" view of the outlook for oil.
Among oil products, gasoline demand is seen cresting in four years and middle distillates -- diesel and jet fuel -- in the"mid-2030s." Regionally, emerging markets in Asia are projected to drive the majority of global oil demand growth. "The EV market is facing a few headwinds - EV subsidies are being cut in a few European markets, and continued price competition has led to profit pressure for OEMs and slower pace of OEMs’ new EV investments," the Goldman analysts said in a note to clients.
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