Goldman warns on global oil demand peak

Goldman Sachs said on Monday, “Higher vehicle efficiency and electric cars penetration, higher fuel prices, and lower economic growth may lead to a global oil demand peak as soon as in 2024”.

Key points

In our extreme case, we project peak oil demand in 2024

Emerging markets economic growth, which will be led by India, may push the reaching of peak demand to until 2030

While other oil products will raise their shares in the global oil demand mix, the share of gasoline and diesel is expected to stagnate until 2030