-
Oil demand to continue to set records in 2024
Global oil demand is due to rise by almost 2 million barrels a day (b/d) in 2024, with China accounting for over 25% of that increase according to a report by Wood Mackenzie. The report, ‘Oil & Chemicals: Five things to watch in 2024’, published in December, states that alongside China, other key markets for growth include three emerging markets in Asia, Indonesia, Vietnam and Thailand as well as the US. “Much of the growth [in oil demand] will be coming in the second half of the year,” says Alan Gelder, Senior Vice President of Research at Wood Mackenzie. “This will be fuelled by improving economic ... (full story)