Oil demand will stay above 100 million bpd beyond 2040, UAE's Jaber says
1. UAE's ADNOC forecasts oil demand over 100 million barrels/day until 2040. 2. The CEO highlighted short-term challenges impacting the market.
FAQ
Why Bullish?
Anticipation of sustained oil demand can boost oil-related investments, including BNO. Historical spikes in oil prices often followed similar demand forecasts, benefiting related ETFs and stocks.
How important is it?
The article points to long-term oil demand, crucial for BNO's performance. Sustained demand forecasts can enhance investment confidence in oil-based funds, including BNO.
Why Long Term?
The forecast implies a robust demand period extending to 2040, suggesting lasting positive effects. Previous predictions of prolonged oil demand have resulted in sustained price increases for oil ETFs like BNO.