How might a sustained oil price spike affect demand?

If a sustained oil price shock took place in the years ahead, conservation measures could reduce oil demand by 10 million to 20 million barrels a day.

Setting the context—commentary by
Occo Roelofsen, a principal in McKinsey's
Amsterdam office

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on light vehicles

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on medium/heavy vehicles

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on chemicals

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on buildings

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on air traffic

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on marine

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on power generation

Reduction measures may be immediate—caused by slower GDP growth and other factors—or structural, requiring investment by consumers or industry.

Occo Roelofsen on other industries