Global Oil Demand Expected to Rise by 6% by 2028, Reaching 105.7 Million Barrels per Day.
The International Energy Agency (IEA) forecasts a significant increase in global oil demand, projecting a 6% rise by 2028 to reach 105.7 million barrels per day (mb/d). This surge is attributed to robust demand from sectors such as petrochemicals and aviation, according to industry reports.
The United States, recognized as the world’s largest oil producer, is expected to maintain its leading position with an average production of 12.9 mb/d, surpassing previous records. As the nation’s oil consumption is also on the rise, reaching an estimated 20.4 million barrels per day this year, support services in the oil and gas industry become increasingly crucial.
Sarens, a global leader in heavy lifting, engineered transport, and crane rental services, has emerged as a vital partner for the energy sector, particularly in Texas, where the company has expanded its operations in strategic locations like Beaumont and Odessa.
With its expertise in oil and gas plant construction projects, Sarens plays a pivotal role in ensuring stable production and securing the supply chain to meet escalating demands. The company’s recent establishment of new facilities in key oil-rich areas underscores its commitment to supporting ongoing maintenance and new infrastructure development within the industry.
Steven Sarens, Managing Director of Sarens in the USA, highlighted the strategic advantage of their new branches in offering comprehensive solutions for heavy lifting, transportation, and engineering needs across various project scales. He emphasized the company’s readiness to contribute to the expansion and modernization efforts underway in the oil and gas sector across Texas.
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The growing importance of energy security is a key topic at the ongoing CERAWEEK conference in Houston, where global energy leaders are convening to discuss industry trends and challenges. Sarens’ involvement in critical projects, such as the Corpus Christi refinery construction and modernization, showcases its capabilities in handling complex tasks within the oil and gas domain.
As investments pour into oil drilling, processing, and facility expansions, Sarens stands poised to facilitate these endeavors through specialized services and equipment, ensuring the smooth execution of projects while maintaining stringent safety and quality standards.
