BP: Global Demand for Oil to Grow, But at Slower Pace

SUGAR LAND--June 21, 2017--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Global demand for crude oil will continue to grow through 2035, but at a slower pace than recent years, BP Plc (NYSE:BP) (London, England) said in its annual long-term energy outlook. Rising vehicle efficiency and increasing use of non-oil transportation fuels, such as electricity and natural gas, will elevate the importance of industrial demand for oil that serves as a feedstock over the next 18 years, the company said in its BP Statistical Review of World Energy, released June 13.

Within this article: Details on how the Oil & Gas markets are reacting to the steady demand growth for crude oil.