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


Industry Segment: Production | Word Count: 911 Words
Attachment: Oil Demand-Supply, Liquids Demand, Liquids Demand Growth, Liquids Supply

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.

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