BP Chief Executive Murray Auchincloss said that global oil demand continued to surprise to the upside, speaking at the Energy Intelligence forum in London on Monday.
He said oil demand kept rising on average by more or less 1% each year, depending on economic circumstances.
BP expected robust oil consumption for the next five to 10 years, Auchincloss added.
In its latest monthly report, the International Energy Agency revised higher its 2024 oil demand growth forecast by 60,000 barrels per day (bpd) on the month to around 920,000 bpd, on higher than expected gasoil demand.
(Reporting by Robert Harvey, Ron Bousso and Marwa Rashad in London; Editing by Alex Richardson and Susan Fenton)