World oil and gas demand could grow until 2050, IEA says
1. IEA predicts oil and gas demand may grow until 2050. 2. This contradicts earlier beliefs in a rapid shift to cleaner fuels.
FAQ
Why Bullish?
The continued demand for oil may support higher prices, benefiting BNO, an ETF tracking Brent crude oil. Historical data shows that projections of long-term demand boosts oil prices and related ETFs, as seen during rising global demand periods.
How important is it?
The discussion of long-term demand for oil signals a potential increase in BNO's valuation, influencing investor sentiment positively. The long-term outlook aligns with investors assessing energy-related assets, crucial for BNO.
Why Long Term?
The long-term nature of this forecast indicates sustained demand for oil, which could support BNO's price over time. Previous forecasts adjusting demand timelines have led to extended periods of price appreciation in oil funds.