Part 7/8:
The Future Landscape of Oil Demand
As the world stands at the precipice of an energy transition, the discrepancies in production costs between regions could significantly reshape global oil dynamics. Countries within the Middle East and Russia seem poised to meet energy demands, capitalizing on their lower production costs while maintaining an edge over higher-cost nations like the U.S. and Canada.
The ripple effects of the EV revolution also promise to affect global oil demand and market behavior. Concerns over long-term investments in fossil fuels have been compounded by shifts in economic activities, resulting in a future where oil demand may not only peak but decline at an accelerated pace.