Wood Mackenzie: Global Peak Oil Demand Expected In 2036 | OilPrice.com
Energy consultancy Wood Mackenzie expects global peak oil demand to come around 2036 as EVs and autonomous vehicle are expected to dent demand for crude oil products
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These days, it’s hard to stop politics from flooding your news feed. We take a moment every week to bring you important stories beyond the White House and the Capitol. Here’s what we’re reading now.
Will oil demand peak soon? Here is the view from Saudi Arabia
RIYADH: Many of the chief executives of the world’s biggest oil companies see peak in demand for oil looming. This peak may happen, arguably, in only 20 years. However, for Saudi Arabia, the picture is rosier than this.Last week, the Saudi Crown Prince Mohammed bin Salman said during a panel at the Future Investment Initiative forum in Riyadh that he sees demand growing in the years 2030 to 2040.There will be new areas for oil demand in the future from compound industries and new forms of petrochemical industries that will use oil differently from the conventional way.