Global Oil Demand Growth: Goldman Sachs projects global oil demand will increase from 103.5 million bbl/day in 2024 to 113 million bbl/day by 2040, with an average growth of ~900,000 bbl/day from 2025 to 2030.
Challenges in Low-Carbon Alternatives: The report highlights limited alternatives for jet fuel and petrochemicals due to technological bottlenecks, contributing to sustained oil demand despite the push for low-carbon solutions.
Long-Term Forecast Uncertainty: Analysts caution that long-term oil demand forecasts are highly uncertain and may be revised significantly, influenced by advancements in low-carbon technology and potential economic recessions.
Comparison with IEA Predictions: Goldman's outlook contrasts with the International Energy Agency's previous prediction of a peak in oil demand by the end of the decade, indicating a more optimistic view on future oil consumption.
Wall Street analysts forecast USO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast USO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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0 Sell
Current: 73.340
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Current: 73.340
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
