In comparison, oil demand around the world “slowed markedly in 2024,” increasing by just 0.8 percent. That’s significantly less demand growth than in 2023, which was 1.9 percent.

If the explosive growth of e-commerce continues as expected beyond 2024, it is likely to increase demand for logistics space from 24% now to 30% by 2030, and cross-border retailers like Shein and ...