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Goldman Revises Oil Demand Forecast After IEA U-Turn
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Why This Matters
Goldman Sachs has revised its oil demand forecast upwards, predicting 113 million barrels daily by 2040, a significant increase from its previous prediction of oil demand peaking in 2034.
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Market impact analysis based on bullish sentiment with 76% confidence.
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76%
Article Context
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Goldman Sachs commodity analysts have followed suit with the International Energy Agency, revising their predictions for oil demand much higher. By 2040, oil demand could expand to 113 million barrels daily, the analysts wrote in a note, as cited by Bloomberg. That would compare to 103.5 million barrels in 2024. It would also compare to a previous Goldman prediction of oil demand peaking in 2034. The revision follows the International Energy Agency’s latest World Energy Outlook, in which the IEA admitted oil and gas demand could continue…
Original article published by
OilPrice.com
on November 14, 2025.
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