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.

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