World markets for petroleum and other liquid fuels have entered a period of dynamic change—in both supply and demand. Potential new supplies of oil from tight and shale resources have raised optimism for significant new sources of global liquids. The potential for growth in demand for liquid fuels is focused on the emerging economies of China, India, and the Middle East, while liquid fuels demand in the United States, Europe, and other regions with well-established oil markets seems to have peaked. After a long period of sustained high oil prices, improvements in conservation and efficiency have reduced or slowed the growth of liquid fuels use among mature oil consumers. The changes in the overall market environment have led the U.S. and Europe to reassess long-term trends in liquid fuels markets for the 2015.
Source: International Energy Outlook (IEO2014).
As an energy consultant write a report showing the main components of this reassessment, risks and opportunities for the future dynamics of the world oil and gas industry.