Recent discussions about Saudi Arabia's oil consumption and its impact on global oil demand have sparked controversy. Claims that Saudi Arabia's domestic oil consumption is 3.7 million barrels per day have been labeled as fake news. Analysts, including Bloomberg's Javier Blas, argue that for global oil demand to peak by 2030, Saudi Arabia would need to implement a significant oil-saving program. Rystad Energy projects that oil supply growth will taper in 2024.
"Global #oil demand can only peak in 2030 if #SaudiArabia embarks on a massive oil-saving program; if it doesn’t, the global numbers don’t add up" - Bloomberg's Javier Blas
Oil supply growth set to taper in 2024, Rystad Energy says https://t.co/AFhvhUSmgq https://t.co/8VyVE2zTNe
In short: the 3.7 mb/d Saudi oil consumption is #fakenews! #Oil #SaudiArabia https://t.co/qqgKrPTpVw
COLUMN: The big irony behind the talk about "peak oil demand" is that it requires Saudi Arabia to slash its domestic crude consumption -- and a lot. Would it? @Opinion #OOTT #SaudiArabia https://t.co/ZS7zApf0CX
The whole petrodollar/Saudi thing is fake news. Excellent job by @jsadinolfi dispelling the rumor that spread like wildfire last week. https://t.co/p2JU9g5trZ