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Posts on ‘October 19th, 2020’

Oil Majors Stuck Between A Rock And A Hard Place

Oil Majors Stuck Between A Rock And A Hard Place

By Andreas De Vries – Oct 18, 2020, 6:00 PM CDT

Extracts

The past few years have been historic for as far as crude oil forecasts are concerned. Back in 2015 the view that crude oil demand could peak during the 2020s or 2030s was still met with disbelief (and some ridicule…). Economic growth had been pushing crude oil demand up ever year for decades already, so why would things become different, so the reasoning went. Today, however, essentially all major energy forecasters, including BPShellTotalDNV-GL, the IEA and even OPEC, have come round and acknowledge Peak Oil Demand as a realistic possibility. read more

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