Goldman Sachs analysts have raised concerns about a potential supply shortage in the oil market as peak demand is forecasted to arrive later than expected. The bank estimates that global oil demand will continue to rise over the next decade, reaching its peak at approximately 110 million barrels per day in 2034. This growth is primarily attributed to increasing demand in Asia and the surge in petroleum product consumption. However, the pace of investment by major oil producers, including ExxonMobil and Chevron, is slowing down. This could exacerbate the supply-demand balance, especially if capital expenditures continue to decline. Despite the delayed peak demand, the analysts emphasize that oil production and investment are decelerating, leading to constrained supply in the medium term. Recent oil price fluctuations, driven by factors such as increased US crude production and OPEC+ supply cuts, reflect the ongoing market dynamics.