Goldman Sachs Predicts Global Oil Demand Growth Until 2040

Goldman Sachs forecasts that global oil demand will increase steadily, peaking in 2034 and continuing to grow through 2040. The bank projects a daily demand of 113 million barrels by 2040, with a gradual growth rate.

Key factors influencing this outlook include limitations in alternative fuels and the indirect boost from AI-driven GDP growth. The prediction suggests a plateau in oil demand by the early 2040s, emphasizing the importance of low-carbon alternatives.