If other countries followed suit, even if just partially, then global demand for oil would decrease and... the price of oil would decrease. (dotearth.blogs.nytimes.com)
I can't speak for oil and gas analysts, but I'd be surprised based on past experience in the industry if the risk of a 10 % or greater drop in global demand for oil or gas in the 2030s would have much of an effect on their price targets for companies — certainly not enough to qualify as a bubble. (energytrendsinsider.com)
This came against a backdrop of surging global demand for oil and related products. (futuresmag.com)