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LONDON: Global oil demand will grow by 1.9 million barrels per day this year, according to a prediction by energy research company Wood Mackenzie, a forecast close to the Organisation of the.
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LONDON (Reuters) -Global oil demand will grow by 1.9 million barrels per day (bpd) this year, according to a prediction by energy research company Wood Mackenzie, a forecast close to the Organisation of the Petroleum Exporting Countries' (OPEC) estimate for 2024. In remarks shared with delegates at a Wood Mac briefing on Wednesday during the Energy Institute conference in London, the firm's vice president of oils research Alan Gelder predicted, like most other forecasters, that the bulk of that rise would come from China and India. Forecasts for oil demand growth in 2024 differ dramatically, reflecting contrasting views on how quickly the world will shift from fossil fuels.