Insight
Africa long-term oil demand – is the region a new source of growth?
Report summary
In our latest forecast for Africa’s long-term oil demand, we expect a gain of 2.3 million b/d from 2019-2040. While downside risks from Covid-19 remain in the short-to-medium term, the economic and demographic growth in the long-term helps drive the region’s oil demand. We take a deep dive in understanding the drivers of Africa's long-term oil demand growth in this report by examining: • Risk from the coronavirus pandemic • How population growth will drive demand • The role of leading macro-economic factors • Which products and sectors will experience the most gains
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