Quote:
Originally Posted by Tinordi
IEA: World oil demand forecast experienced the second consecutive annual deceleration in oil demand growth at 1.3% in 2017.
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Yeah. Listened to a speaker who is a very highly respected Canadian oil and gas titan. Won't get into details exactly but basically he predicted roughly 101-104mmbo/d global demand will be peak demand (or so). Vs all the previous estimates of analysts saying it would go as high as 120mmbo/d
That kind of a correction on estimates will pose huge issues for current supply. He also added that the technological advances coming with unconventional are going to keep oil range bound to 40-60$/bbl. Optimistically. Said we will absolutely without a doubt never see $100/bbl ever again. He had sound numbers and research to back it up, and it all kinda made sense. Spoke to EV and automation as the key driver of this demand slowing.