HSBC sees oil demand peaking later on robust petchem outlook

摘要

Global oil demand will grow by 4 million b/d from 2022 levels to peak at around 104 million b/d in four years' time as robust petrochemical demand offsets the impact of booming electric vehicle sales, according to new research from HSBC. Updating its long-term oil demand forecasts last made in 2021, the bank's research unit said the stronger-than-expected resilience of petrochemical demand in the wake of the coronavirus pandemic has tempered its bearish oil demand outlook, which had predicted peak levels of around 100 million by 2025.