From peak demand to peak oil: Perspectives change quickly in the oil & gas industry
Oct 08:
In the oil & gas sector, perspective can change very quickly 8Till a few months ago, the talk was centered around how soon peak demand is going to come about. Some predicted by 2025, some by 2030 or 2035 8The debate is now shifting to "peak oil" now, wherein the emphasis seems to be on the world's inability to push up supply significantly enough to keep pace with demand 8Wood Mackenzie claims that the supply gap could reach 3 million barrels per day (b/d) by 2030, 9 million b/d by 2035 and a “formidable” 15 million b/d by 2040. 8This could mean that oil prices stay very high for a long period of time Click on Reports for more