World’s biggest IPO: Workers at Saudi Aramco’s oil processing facility in Abqaiq, near Dammam in Saudi Arabia’s eastern province.
DUBAI: Global oil demand may peak within the next 20 years, according to an assessment included in the prospectus for Saudi Aramco’s initial public offering, suggesting views are slowly changing in the kingdom where officials long dismissed the notion as overblown.
Rather than providing its own assessment, Aramco used a forecast from industry consultant IHS Markit Ltd that forecasts oil demand to peak around 2035. Under that scenario, demand growth for crude and other oil liquids will be “levelling off” at that time.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
