global oil demand

Oil demand to return to pre-pandemic levels by 2022, Goldman says, but unlikely to peak this decade

July 2, 2020

CNBC Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending. In a research note published Thursday, analysts at the U.S. investment bank estimated global oil demand would decline by 8% in 2020, rebound by 6% in 2021 and “fully recover” to pre-coronavirus

Global oil use heads for record annual drop as virus spreads

March 16, 2020

Houston Chronicle Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce unprecedented measures to fight the coronavirus outbreak. Travel bans, work-from-home, canceled vacations and disrupted supply chains all mean reduced demand for fuel. As societies respond to the virus, oil demand — already hammered by China’s decision to shut down swathes

US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says

February 19, 2020

CNBC The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020. Rob Kaplan, president of the Fed district, said in an essay that the decline in oil production growth will have a substantial impact on the energy service companies. Some have already announced

Global oil demand to peak around 2040 or ‘much sooner,’ IMF says

February 6, 2020

CNBC Global oil demand will peak around 2040 – or “much sooner” – the International Monetary Fund (IMF) said in a new report on the future of oil. The IMF said that this could have a “significant” impact on oil-exporting countries, predominantly those in the Middle East whose existing financial wealth could be depleted in the next 15 years if

Goldman expects an ‘uneventful’ three-month OPEC output cut extension

December 3, 2019

Reuters Goldman Sachs said on Monday the Organization of the Petroleum Exporting Countries (OPEC) and its allies will likely extend its current output curbs through June, but expects the “uneventful” three-month extension to provide little support to prices. OPEC and other global producers including Russia, a group known as OPEC+ have been cutting output by 1.2 million barrels per day

Oil demand to return to pre-pandemic levels by 2022, Goldman says, but unlikely to peak this decade

Global oil use heads for record annual drop as virus spreads

US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says

Global oil demand to peak around 2040 or ‘much sooner,’ IMF says

Goldman expects an ‘uneventful’ three-month OPEC output cut extension

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