According to a recent report by Wood Mackenzie, global oil demand is projected to increase by 1.9 million barrels per day (bpd) in 2024. This growth in demand is a significant indicator of the ongoing reliance on oil as a primary energy source worldwide.
The forecasted rise in oil demand aligns with the continued economic development and industrial expansion in various regions across the globe. As industries expand and populations grow, the need for oil to fuel transportation, manufacturing, and other sectors also increases.
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