Demand has always been the key driver for oil.
Even in Hubbert’s 1956 Peak Oil article, Peak Oil was always a function of what price consumers would support to find, develop and lift. Put more simply, there has always been the expectation that supply will be available, if the price is right.
While there is a likely to be a change in demand for products that come from oil as we move to “net zero,” there will still be demand for oil.
Before there is a rush to write an obituary for the oil & gas business, there needs to be a better understanding of where the demand will come from, not least as gas gains greater importance as a fuel.
In this article, we discuss why all is not doom and gloom for oil & gas.
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