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Page added on May 23, 2021

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Global oil demand has risen to 95 mln bpd

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The global oil market is rebalancing, and oil demand has risen to 95 million barrels per day, Sultan Ahmed Al Jaber, chief executive of the Abu Dhabi National Oil Company, said on Thursday.

The longer-term forecast has demand rising to 106 million bpd by 2030, Al Jaber said during the Columbia Global Energy Summit. The oil and gas industry has reduced investments over the past five years, as companies prioritized capital discipline and as investors grew more motivated by environmental concerns, he said.

reuters



5 Comments on "Global oil demand has risen to 95 mln bpd"

  1. Cloggie on Mon, 24th May 2021 2:31 am 

    Some time ago, a report by Rystad was posted here, predicting peak oil (demand) in 2026. The “moderate scenario” has a plateau of 101.6 mbd, lasting until 2030 and then linear depletion towards 50% of the peak in 2050:

    https://deepresource.wordpress.com/2021/05/21/peak-oil-2026/

    This will ensure a rather frictionless energy transition for those who start the transition NOW in earnest. Like in Europe.

  2. DT on Mon, 24th May 2021 10:59 am 

    “for those who start the transition NOW in earnest.”

    Cloggie, the so called “transition” does not exist without FF inputs. Down the road when the current “transition” energy schemes such as photovoltaic and wind turbines need replacement, without FF inputs, how will the next generation of so called “renewable” energy schemes be replaced? “Renewable” energy will not produce enough energy AND do the work industrial civilization wants, with spare energy to replicate the said “renewable” devices.

    It is interesting to note that over the past 25 years this so called “transition” that has supposedly been going on has not ever displaced FF use. In fact with the exception of the past year due to covid, the use of FF has only increased world wide no matter how many of these so called “renewable” devices are installed.

  3. Duncan Idaho on Mon, 24th May 2021 5:21 pm 

    We need to pass global peak in November of 2018 first.
    Hint:
    Don’t hold your breath

  4. Duncan Idaho on Tue, 25th May 2021 10:32 am 

    “I will continue that the outlook for oil has never been worse since I started paying attention in 1997. One would think that $60s WTI would help, but it hasn’t. No drilling going on here at all. Still a lot of wells that were SI due to negative oil price that continue to be SI. There are no workers. Almost no workover rigs are even available, almost all are still stacked. We have been waiting on a rig for weeks, there are literally less than ten workover rigs running in a field with over 3,000 active production and injection wells.

    The people that own leases here are almost all age 50+. Oil is going to die due to the negative sentiment. I sure hope the alternatives will pan out.”

  5. ThisIsNotGoingWorkd on Thu, 27th May 2021 1:36 pm 

    I came back from grocery shopping, went to Walmart and other stores. This is not going to work with me. I think a full war human against reptilians and JINN is the way to go for us human being. The ass fucking we have been taking has lasted enough No peace agreement be reach now, it is too late. I would be more comfortable with a concrete declaration of war coming from reptilian and JINN toward the human race. Then I will know were we stand and can finally fix this once and for all. As far as I can say, no reconciliation between me and reptilians and JINN will ever be possible,. FInd another sucker to manipulate. We human need to form rapid deployment team to attack the infrastructure and cleaning up this fucking world from parasite.

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