Updates
December 15, 2022: link here.
Original Post
Peak oil demand nowhere in sight.
Despite an expected fourth-quarter contraction of global oil demand by 110,000 barrels per day (bpd) compared to the same period of 2021, recent data on consumption in non-OECD regions has pointed to more resilient demand than expected earlier.
The agency now sees global oil demand growing by 2.3 million bpd this year, up by 140,000 bpd compared to the growth expected in last month’s report. Demand growth in 2023 is expected at 1.7 million bpd, an upward revision of 100,000 bpd compared to the November estimates. Next year, global oil demand is set to reach 101.6 million bpd.
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