Energy watchdog predicts 'staggering' oil glut by 2030

The video discusses the projected slowdown in oil demand, with a peak expected by 2030, while production capacity is set to increase, potentially disrupting OPEC Plus strategies. Despite an oil surplus, gas prices may not drop due to factors like refining capacity. The transition to clean energy, including electric vehicles, is affecting oil demand and refining capabilities. The future of oil refining is uncertain as the EV transition accelerates, which could impact gas prices.

What is the projected peak of oil demand by 2030?

• 106 million barrels a day

• 120 million barrels a day

• 100 million barrels a day

• 114 million barrels a day

How much is the expected oil production capacity expected to exceed global demand?

• 8 million barrels a day

• 5 million barrels a day

• 10 million barrels a day

• 12 million barrels a day

What factor besides oil price affects gasoline prices in the U.S.?

• Storage costs

• Import taxes

• Refining capacity

• Transportation costs

What is one reason for the declining growth in oil demand?

• Increased oil reserves

• Decreased global population

• Surging sales of electric vehicles

• Higher oil prices

What challenge is associated with the transition to clean energy?

• Insufficient oil reserves

• Difficulty in commissioning solar and wind resources

• Lack of government support

• High cost of electric vehicles