Trending News: Iraq Hikes Oil Exports via Hormuz in Boon for Asian RefinersHormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant WarnsRussia Says Oil Output Drop Is Temporary as Refineries RestartNorway Seizes Russian Cruise Ship to Enforce Naftogaz’s $4.22 Billion ClaimSuez Canal Economic Zone targets energy potential as Egypt–China ties strengthenBrazil orange juice waste-to-biogas plant nears completionChinese Refiners Pay Record Premiums for Russian ESPO CrudeEurope’s Low Gas Stocks Set Stage for Winter LNG BattleGlobal Refining Crunch Could Keep Fuel Prices High Into 2027Stade FLNG to commission in November providing Germany supply boostAvnos commissions 450-tonne hybrid DAC plant in New JerseyIndian Markets Slip As Green Energy Stocks Deliver Mixed Performance (03 September 2026)eCap Marine to fit hydrogen propulsion on two new vesselsInox Clean Energy Raises INR 3,100 Crore in Equity to Expand Renewable IPP and Solar Manufacturing BusinessesFinland gives go ahead for wood-based biogenic CO2 plantChevron Bets $7 Billion on Venezuela Oil ExpansionOPEC+ Set to Hold Oil Output Steady as Iran War Disrupts SupplyAsian Oil Buying Spree Sends Dubai Crude Toward $100Asian LNG Prices Surge to Highest Since 2022 as Iran War EscalatesFull-scale onboard carbon capture hits 40% but port bottleneck remainsIEX Records Highest-Ever Monthly Electricity Trading Volume of 13,938 MU in August 2026CEA Proposes 15% Grid-Forming Inverters And Mandatory ESS For Renewable Projects From 2027Back British Biogas campaign closes next MondayUAE And Nigeria Discuss 5,000 MW Power Generation ExpansionNetherlands duo target wood waste for biomethanol and biomethaneSEMI and Silicon Catalyst team up on global semiconductor innovationHormuz Traffic Craters to Four Ships as Iran-U.S. Strikes EscalateIndustrial zone plan to boost localisation for Uzbek nuclear projectRosatom signs EPC contract for Kazakhstan nuclear plantProject to consider trans-Atlantic nuclear-powered cargo shipsUN Warns Global Warming Will Top 1.5C Within YearsPakistan Rejects Costly LNG Cargo as Blackout Risk DeepensDiesel Cracks Hit Record Highs as Global Fuel Squeeze DeepensQatar and UAE Turn to Rare LNG Ship Transfers as Hormuz Crisis Drags OnKazakhstan to Double Oil Refining Capacity by 2040India Boosts Far East Russian Oil Imports as War Upends Trade RoutesRyanair Warns Some Airlines Could Struggle with Jet Fuel Price SpikeAI Could Unlock $230B for Oil, Gas, OFSE Cos, McKinsey SaysGalactic Energy joins reusable rocket raceGalactic Energy joins reusable rocket raceMeritus enters Arizona market with Allied Gases and Welding Supplies acquisitionUS LNG exports up 23% in first half of 2026, reports EIASwitzerland launches cross-border BECCS CO2 supply chainColumn: How energy-efficient motors can cut biogas plant costsQatar and UAE LNG cargoes transferred ship-to-ship outside HormuzIndia Daily: Andaman & Nicobar Tenders 20 MWh BESS, NLC–OREDA Form Green JV, UPCL Tenders BESS, BERC Reviews 70 MW LTA, REC Transfers Luhri SPV, BERC Reviews OA ChargesYellow Door Energy, Nedbank CIB Reach Financial Close on 49 MWp Lion Thorn Solar Park in South AfricaNorthern Endurance Partnership receives pipelay vesselBessent Says Strait of Hormuz Obsolete Within Two YearsU.S. Shale Producers Lose Bid to Kill Oil Price-Fixing CaseU.S. Crude Inventories Drop amid Continued SPR DrawsU.S. Energy Secretary Says Venezuela Could More Than Double Oil ProductionHormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil MarketsBuckeye expands Colorado footprint with Wagner Welding Supply buyPower Sector Investments to Drive 100–200 bps Revenue Growth for Large EPC Companies: CRISIL RatingsNippon Sanso expands UK dry ice businessGoodWe Included in BloombergNEF Tier 1 Power Inverter List for Sixth Consecutive QuarterAdani Green Energy Crosses 20 GW Operational Renewable Capacity With 139 MW Khavda Solar ProjectTerraPower selects more suppliers for Natrium componentsDecommissioning of Chernobyl units progressingRosatom considers Murmansk site focused on floating power plant constructionBlykalla seeks state aid for second SMR plantHelical selected for Japanese fusion demonstration projectRussia Doubles Dark Fleet to Ship LNG to AsiaU.S. Energy Storage Capacity Installations Hit Record High in Q2Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags OnU.S. Oil Deal Pushes China and Russia Out of Venezuelan FieldsEurope’s Wind Power Buildout Jumps 30% in First HalfPrice, Not Politics, Is Driving Most of India’s Oil BuyingUkrainian Drone Barrage Sets Key Russian Oil Port AblazeSolar Overtakes Coal as China’s Largest Power SourceTwo Supertankers Hit by Unknown Projectiles in Strait of HormuzWhat Is the Oil, Gas Impact of Storm Edouard?Datacentrex takes minority stake in Eagle LNG to support US space launch buildoutCheniere nears completion of CCL Stage 3 and reaches export milestoneJFE Steel selected for DeepStar CO2 pipeline projectIndia Daily: PM Surya Ghar Subsidy, POWERGRID Acquires Fatehgarh II, BPCL Tenders 1 MW Solar, VPA Advances 10 MW Solar, CEA Backs Flexible ThermalIndian Green Energy Stocks Show Mixed Trend As Adani Green Leads Gains (01 September 2026)Hijau Raises $10 Million to Scale Distributed Solar Projects Across IndonesiaPhilippines DA, DOE Plan 3 Million-Hectare Farmland Shield Against Solar ExpansionMinistry Of Energy Targets 5,200 Schools For Solar Power Installations In Saudi ArabiaCoal Got an Order. Nuclear Got a MeetingCondenser Chemistry Management: From Grab Samples to Predictive Digital TwinsSLB Makes $3.4 Billion Bet on AI Data Center BoomBP Adds 80 MMcf/d to Egypt’s Gas Supply Two Years Ahead of ScheduleChevron, ONGC and GE Vernova Near Final Venezuela Energy DealsOil Prices Climb as Trump Threatens New Strikes on IranBlue Star Helium extends Pinon Canyon offtake deal to 2027Ireland connects second biomethane plant and eyes export potentialgasworld US – September 2026 – Equipment, digitization and distributors issuegasworld Global – September 2026 – LNG & LogisticsH2 View – September 2026: ElectrolysersABO maps development for 600MW Finnish green hydrogen plantIndia and Uzbekistan eye uranium deal as ties growChevron nears deal to operate two giant oil fields in Venezuela’s Orinoco BeltFuel loading under way for Palisades restart, Holtec announcesIAEA concern over diesel supply for Zaporizhzhia generatorsTennessee issues licence for fusion plantProposal for Canadian marine-based SMR plantAsia Steps In to Fill Diesel Supply Gap in Africa as Middle East Exports Crash
Thu. Sep 3rd, 2026
Trending News: Iraq Hikes Oil Exports via Hormuz in Boon for Asian RefinersHormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant WarnsRussia Says Oil Output Drop Is Temporary as Refineries RestartNorway Seizes Russian Cruise Ship to Enforce Naftogaz’s $4.22 Billion ClaimSuez Canal Economic Zone targets energy potential as Egypt–China ties strengthenBrazil orange juice waste-to-biogas plant nears completionChinese Refiners Pay Record Premiums for Russian ESPO CrudeEurope’s Low Gas Stocks Set Stage for Winter LNG BattleGlobal Refining Crunch Could Keep Fuel Prices High Into 2027Stade FLNG to commission in November providing Germany supply boostAvnos commissions 450-tonne hybrid DAC plant in New JerseyIndian Markets Slip As Green Energy Stocks Deliver Mixed Performance (03 September 2026)eCap Marine to fit hydrogen propulsion on two new vesselsInox Clean Energy Raises INR 3,100 Crore in Equity to Expand Renewable IPP and Solar Manufacturing BusinessesFinland gives go ahead for wood-based biogenic CO2 plantChevron Bets $7 Billion on Venezuela Oil ExpansionOPEC+ Set to Hold Oil Output Steady as Iran War Disrupts SupplyAsian Oil Buying Spree Sends Dubai Crude Toward $100Asian LNG Prices Surge to Highest Since 2022 as Iran War EscalatesFull-scale onboard carbon capture hits 40% but port bottleneck remainsIEX Records Highest-Ever Monthly Electricity Trading Volume of 13,938 MU in August 2026CEA Proposes 15% Grid-Forming Inverters And Mandatory ESS For Renewable Projects From 2027Back British Biogas campaign closes next MondayUAE And Nigeria Discuss 5,000 MW Power Generation ExpansionNetherlands duo target wood waste for biomethanol and biomethaneSEMI and Silicon Catalyst team up on global semiconductor innovationHormuz Traffic Craters to Four Ships as Iran-U.S. Strikes EscalateIndustrial zone plan to boost localisation for Uzbek nuclear projectRosatom signs EPC contract for Kazakhstan nuclear plantProject to consider trans-Atlantic nuclear-powered cargo shipsUN Warns Global Warming Will Top 1.5C Within YearsPakistan Rejects Costly LNG Cargo as Blackout Risk DeepensDiesel Cracks Hit Record Highs as Global Fuel Squeeze DeepensQatar and UAE Turn to Rare LNG Ship Transfers as Hormuz Crisis Drags OnKazakhstan to Double Oil Refining Capacity by 2040India Boosts Far East Russian Oil Imports as War Upends Trade RoutesRyanair Warns Some Airlines Could Struggle with Jet Fuel Price SpikeAI Could Unlock $230B for Oil, Gas, OFSE Cos, McKinsey SaysGalactic Energy joins reusable rocket raceGalactic Energy joins reusable rocket raceMeritus enters Arizona market with Allied Gases and Welding Supplies acquisitionUS LNG exports up 23% in first half of 2026, reports EIASwitzerland launches cross-border BECCS CO2 supply chainColumn: How energy-efficient motors can cut biogas plant costsQatar and UAE LNG cargoes transferred ship-to-ship outside HormuzIndia Daily: Andaman & Nicobar Tenders 20 MWh BESS, NLC–OREDA Form Green JV, UPCL Tenders BESS, BERC Reviews 70 MW LTA, REC Transfers Luhri SPV, BERC Reviews OA ChargesYellow Door Energy, Nedbank CIB Reach Financial Close on 49 MWp Lion Thorn Solar Park in South AfricaNorthern Endurance Partnership receives pipelay vesselBessent Says Strait of Hormuz Obsolete Within Two YearsU.S. Shale Producers Lose Bid to Kill Oil Price-Fixing CaseU.S. Crude Inventories Drop amid Continued SPR DrawsU.S. Energy Secretary Says Venezuela Could More Than Double Oil ProductionHormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil MarketsBuckeye expands Colorado footprint with Wagner Welding Supply buyPower Sector Investments to Drive 100–200 bps Revenue Growth for Large EPC Companies: CRISIL RatingsNippon Sanso expands UK dry ice businessGoodWe Included in BloombergNEF Tier 1 Power Inverter List for Sixth Consecutive QuarterAdani Green Energy Crosses 20 GW Operational Renewable Capacity With 139 MW Khavda Solar ProjectTerraPower selects more suppliers for Natrium componentsDecommissioning of Chernobyl units progressingRosatom considers Murmansk site focused on floating power plant constructionBlykalla seeks state aid for second SMR plantHelical selected for Japanese fusion demonstration projectRussia Doubles Dark Fleet to Ship LNG to AsiaU.S. Energy Storage Capacity Installations Hit Record High in Q2Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags OnU.S. Oil Deal Pushes China and Russia Out of Venezuelan FieldsEurope’s Wind Power Buildout Jumps 30% in First HalfPrice, Not Politics, Is Driving Most of India’s Oil BuyingUkrainian Drone Barrage Sets Key Russian Oil Port AblazeSolar Overtakes Coal as China’s Largest Power SourceTwo Supertankers Hit by Unknown Projectiles in Strait of HormuzWhat Is the Oil, Gas Impact of Storm Edouard?Datacentrex takes minority stake in Eagle LNG to support US space launch buildoutCheniere nears completion of CCL Stage 3 and reaches export milestoneJFE Steel selected for DeepStar CO2 pipeline projectIndia Daily: PM Surya Ghar Subsidy, POWERGRID Acquires Fatehgarh II, BPCL Tenders 1 MW Solar, VPA Advances 10 MW Solar, CEA Backs Flexible ThermalIndian Green Energy Stocks Show Mixed Trend As Adani Green Leads Gains (01 September 2026)Hijau Raises $10 Million to Scale Distributed Solar Projects Across IndonesiaPhilippines DA, DOE Plan 3 Million-Hectare Farmland Shield Against Solar ExpansionMinistry Of Energy Targets 5,200 Schools For Solar Power Installations In Saudi ArabiaCoal Got an Order. Nuclear Got a MeetingCondenser Chemistry Management: From Grab Samples to Predictive Digital TwinsSLB Makes $3.4 Billion Bet on AI Data Center BoomBP Adds 80 MMcf/d to Egypt’s Gas Supply Two Years Ahead of ScheduleChevron, ONGC and GE Vernova Near Final Venezuela Energy DealsOil Prices Climb as Trump Threatens New Strikes on IranBlue Star Helium extends Pinon Canyon offtake deal to 2027Ireland connects second biomethane plant and eyes export potentialgasworld US – September 2026 – Equipment, digitization and distributors issuegasworld Global – September 2026 – LNG & LogisticsH2 View – September 2026: ElectrolysersABO maps development for 600MW Finnish green hydrogen plantIndia and Uzbekistan eye uranium deal as ties growChevron nears deal to operate two giant oil fields in Venezuela’s Orinoco BeltFuel loading under way for Palisades restart, Holtec announcesIAEA concern over diesel supply for Zaporizhzhia generatorsTennessee issues licence for fusion plantProposal for Canadian marine-based SMR plantAsia Steps In to Fill Diesel Supply Gap in Africa as Middle East Exports Crash
Thu. Sep 3rd, 2026

Goldman Sachs Sees Global Oil Demand Growing Through 2040

(Reuters) – Goldman Sachs expects global oil demand to grow to 113 million barrels per day in 2040 from 103.5 mbpd in 2024, driven by rising energy needs and ongoing challenges in low-carbon technology and infrastructure, the Wall Street bank said on Thursday.

“We expect solid annual average demand growth of 0.9 mbpd in 2025-2030, before slowing to 0.1 mbpd by 2040,” it said in a note.

Get the Latest US Focused Energy News Delivered to You! It’s FREE:

Key factors Goldman cited for its above-consensus outlook include limited alternatives for jet fuel and petrochemicals due to technology bottlenecks, and energy demand growth outpacing oil displacement even after road fuel peaks post-2030. It also noted an indirect 3 mbpd boost from artificial intelligence-driven gross domestic product growth by 2040.

However, Goldman also noted downside risks from faster progress in low-carbon tech and potential recessions. Oil prices held largely steady on Thursday, a day after declining around 4%, as investors weighed concerns about global oversupply with looming sanctions against Russia’s Lukoil.

Reporting by Sarah Qureshi in Bengaluru; Editing by Richard Chang

Share This:

More News Articles

 

    • Related Posts

    Top US Refiners See Profits Soar, Step Up Investor Rewards
    Top US Refiners See Profits Soar, Step Up Investor Rewards

    By Nicole Jao Top refiners post combined second-quarter profit of $12.6 billion Capital returns to shareholders hit $6.3 billion in second quarter TD Cowen sees Marathon and Valero each repurchasing…

    Continue reading
    BofA to Plow $250 Billion Into Critical Infrastructure Projects
    BofA to Plow $250 Billion Into Critical Infrastructure Projects

    By Paula Seligson and Katherine Doherty Bank of America Corp. unveiled a $250 billion initiative to invest in critical infrastructure across the US over the next year, joining its peers…

    Continue reading

    Have You Seen?

    Oil & Gas

    Iraq Hikes Oil Exports via Hormuz in Boon for Asian Refiners

    • September 3, 2026
    Iraq Hikes Oil Exports via Hormuz in Boon for Asian Refiners
    Oil & Gas

    Hormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant Warns

    • September 3, 2026
    Hormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant Warns
    Oil & Gas

    Russia Says Oil Output Drop Is Temporary as Refineries Restart

    • September 3, 2026
    Russia Says Oil Output Drop Is Temporary as Refineries Restart
    Oil & Gas

    Norway Seizes Russian Cruise Ship to Enforce Naftogaz’s $4.22 Billion Claim

    • September 3, 2026
    Norway Seizes Russian Cruise Ship to Enforce Naftogaz’s $4.22 Billion Claim
    Gas

    Suez Canal Economic Zone targets energy potential as Egypt–China ties strengthen

    • September 3, 2026
    Suez Canal Economic Zone targets energy potential as Egypt–China ties strengthen
    Gas

    Brazil orange juice waste-to-biogas plant nears completion

    • September 3, 2026
    Brazil orange juice waste-to-biogas plant nears completion
    Oil & Gas

    Chinese Refiners Pay Record Premiums for Russian ESPO Crude

    • September 3, 2026
    Chinese Refiners Pay Record Premiums for Russian ESPO Crude
    Oil & Gas

    Europe’s Low Gas Stocks Set Stage for Winter LNG Battle

    • September 3, 2026
    Europe’s Low Gas Stocks Set Stage for Winter LNG Battle
    Oil & Gas

    Global Refining Crunch Could Keep Fuel Prices High Into 2027

    • September 3, 2026
    Global Refining Crunch Could Keep Fuel Prices High Into 2027
    Gas

    Stade FLNG to commission in November providing Germany supply boost

    • September 3, 2026
    Stade FLNG to commission in November providing Germany supply boost