McKinsey Global Oil Supply and Demand Outlook
Oil Demand Recovery Is In Sight
According to McKinsey’s latest Global oil supply and demand outlook, the future of energy requirements is not all doom and gloom. Demand is expected to fully recover within two to four years and in fact, “liquid” demand is expected to fully recover by late 2021 or early 2022.
The McKinsey report authors, Luciano Di Fiori, Elif Kutsal and Pawel Wilczynski also discuss future production requirements in order to meet energy demand requirements through to 2040.
“By 2040, exploration and production companies need to add 38 MMb/d of new crude production from unsanctioned projects to meet demand. Most new supply is expected to come from offshore and shale resources.”
Read the Global oil outlook to 2040 summary report here.
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