1. Oil and gas demand may grow until 2050 according to IEA's new scenario. 2. U.S. policies favor fossil fuels, slowing EV adoption impacts oil demand. 3. Global oil demand could rise to 113 million barrels daily by 2050. 4. LNG projects surge, with a 50% increase in global supply by 2030. 5. Renewables grow, but insufficient for emission reductions by 2050.
Rising oil demand could lead to higher oil prices, impacting BNO positively. Historically, increased demand scenarios have supported oil ETF prices.
The article outlines significant shifts in oil demand forecasting, influencing market dynamics and investor sentiment towards oil ETFs like BNO.
The projected demand growth extends to 2050, indicating sustained interest in oil and related investments. Historical patterns suggest oil prices often rise over extended periods of demand growth.