Our Editor Talks Big Oil News

Shockwaves are about to go through the industry From the desk of our Editor - Global oil demand is on the brink of a significant decline, reaching its peak this decade, as reported by the International Energy Agency (IEA). - The shift towards a clean energy economy, driven by advancements in electric vehicles, energy efficiency, and other technologies, is gaining momentum and posing a threat to the future of the oil industry. - According to the IEA, under current market and policy conditions, global oil demand is projected to rise by only 6% from 2022 to 2028, signaling a dramatic slowdown in growth. - China's post-Covid recovery, initially a beacon of hope for the oil market, is expected to lose steam, significantly impacting global trade and manufacturing. Beijing's oil consumption will dwindle, averaging just 290,000 barrels per day from 2024 to 2028. 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By clicking above you are agreeing to the Wealthpress [Privacy policyÂ]( Oil Demand Hits Brakes: Global Peak Looms as Clean Energy Revolution Revs Up  Hi Traders,  Hold tight, folks!  The International Energy Agency (IEA) is dropping a bombshell on the oil industry.  Brace yourselves for a game-changing revelation: global oil demand is about to hit the brakes and peak before this decade comes to a screeching halt.  Buckle up as we dive into the details.  According to IEA Executive Director Fatih Birol, the shift to a clean energy economy is gaining momentum faster than a speeding bullet.  What's fueling this rapid change?  The rise of electric vehicles, energy efficiency, and other groundbreaking technologies.  In the IEA's latest medium-term market report, published just yesterday, they paint a striking picture.  Under current market and policy conditions, global oil demand is projected to rise by a mere 6% from 2022 to reach 105.7 million barrels per day in 2028.  But don't be fooled by these numbers.  The annual demand growth is set to plummet from 2.4 million barrels per day this year to a measly 400,000 barrels per day in 2028.  Talk about hitting the brakes!  But wait, there's more!  Brace for impact....because the global outlook is riding on the back of China's post-Covid reopening.  However, the IEA warns that China's consumption surge will lose steam after hitting its peak in mid-2023.  From 2024 to 2028, the average year-on-year growth is expected to be a paltry 290,000 barrels per day. It's a classic case of roaring in and fizzling out.  Last year, an "unprecedented reshuffling of global trade flows" and emergency petroleum reserve releases temporarily eased market tensions. These moves allowed industry inventories to rebuild.  Phew! That was a close call.  On the supply side, the IEA has a bombshell in store.  They expect non-OPEC+ oil producers to dominate the medium-term capacity expansion plans.  North American producers, led by the United States, are stepping up to the plate.  The IEA estimates that global supply capacity will rise by a staggering 5.9 million barrels per day, reaching 111 million barrels per day by 2028. However, this growth will taper off due to a U.S. slowdown.   What about Russia, you ask?  Well, things aren't looking so bright for them. The IEA predicts that Russian output will decline due to sanctions on their crude exports and the departure of Western companies supporting their production.  Things could get dicey, as Russian supplies are expected to decrease by a net 710,000 barrels per day over the next six years.   Hold on, folks, we're not done yet.  The IEA raises the red flag on upstream oil and gas investment. They predict a staggering $528 billion in investment in 2023 alone, the highest since 2015.  That's more than what a net-zero-emission world would need. They caution oil producers to pay attention to the changing tides and adjust their investments accordingly.  I love gas cars. The sound of the engine, the feel of the VROOM,,,but it looks like t's time to adapt...or be left behind. John Todora Editor Traders on Trend  Dear Investor, I recently discovered a trader sitting on a remarkable 97% win rate… If that’s not impressive enough, over the last 7 years ( and the most volatile markets in recent history) this investor hasn’t closed out a single losing trade… They’ve got a perfect win streak and no plans to slow down anytime soon. This is a unique investment opportunity that could potentiallyÂyield significant returns. [If you're curious to learn more about their secret trading strategy, click here now!]( Sincerely, Phil Ash Investing Daily  Disclaimer:  The material in this document is for informational purposes based on our proprietary research. 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