Oil demand to peak at 104.4 million bpd in 2035 Unipec
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world oil demand will peak at 104.4 million barrels per day bpd in the mid-2030s up from just below the current 100 million bpd1 it shall be so as new technologies gradually eat into oil use chinas unipec said on monday at the annual asia pacific petroleum conference appec in singapore1 unipec president chen bo said improved energy efficiency and technological changes are keys to the trend1 he also said that the rise of renewables also meant global oil demand growth would slow in coming years and peak at 104.4 million bpd in 2035my noting that inspite of trade disputes between china and the u.s. crude supply was an important new source for chinese refiners1 he added that it allows diversification away from middle east and african crudes on which china has relied heavily he said1 trade war tensions between the united states and china will last just for the time being and in the future well be active in this area he said1 chen bo also said china would reduce iranian oil imports because of looming u.s. sanctions against the middle east country due to start in november1 there had not yet been a decision on how big these cuts would be1