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Commodities Briefing - Categorized | Market Moves, Oil more

Oil demand may peak before decade is over

Posted on 28 March 2013

Global oil demand isn’t the runaway train we have been led to believe, analysts at Citi said Wednesday. Punching holes in this theory are the push to replace oil with cheaper natural gas and steady improvements in fuel efficiency. The combination “is enough to mean that oil demand growth may be topping out much sooner than the market expects,” Citi said.
Several groups, including the International Energy Agency, have called for oil demand to rise through 2035 and beyond. The IEA recently said it expects global oil demand to reach 99.7 million barrels a day in 2035, up from 87.4 million in 2011………………………………………..Full Article: Source


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