Oil demand refers to the total amount of crude oil that consumers and industries require for various uses, such as transportation, heating, and manufacturing. It is influenced by factors like economic growth, population size, and technological advancements. As economies expand, the need for energy increases, leading to higher oil consumption. Global oil demand is also affected by shifts towards renewable energy sources and government policies aimed at reducing carbon emissions. Events such as geopolitical tensions and natural disasters can disrupt supply chains, further impacting the balance between oil supply and oil demand. Understanding these dynamics is crucial for energy markets.