Goldman Sachs Warns Oil Demand Drop

Goldman Sachs Bank expects global oil demand to decline by up to 320,000 barrels per day by the end of 2027, due to the accelerating adoption of electric vehicles—particularly as electric cars now account for 26.1% of total vehicle sales—along with continued growth in major markets such as China. The outlook is based on various scenarios that differ in the speed of adoption, which could help reduce dependence on fossil fuels in the future.

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