BP sees a future of slowing oil demand growth, abundant supplies - BBG

British Petroleum (BP) in its "Energy Outlook 2035" report published late-Wednesday predicted that supply will continue to exceed demand in the coming decades.

Key Highlights from the report via BBG:

Oil demand growth will slow ... Demand for oil will expand by an average 0.7 percent a year over the next two decades, little more than half the rate in the preceding 20 years ... "energy efficiency will moderate growth in demand."

Supplies will remain abundant in the coming decades

Producers in the Middle East, Russia and U.S. to gain market share at the expense of higher-cost rivals

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