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Page added on October 18, 2020

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IEA expects global oil consumption to peak by 2030

Consumption

The era of growth in global oil consumption is coming to an end and will end in the period until 2030, follows from the forecast of the International Energy Agency (IEA) World Energy Outlook 2020 (WEO), received by TASS on Tuesday.

“The era of rising global oil demand will come to an end within 10 years, but the shape of the economic recovery is a key uncertainty,” the report said. However, even under the most favorable scenarios for oil (there are four in the report), demand will plateau until 2030. If the fight against coronavirus drags on, then global oil consumption will no longer exceed 100 mln barrels per day.

This is partly influenced by consumer behavior, the IEA points out. “The longer lockdowns last, the more consumer behavior changes. For example, work from home and the habit of avoiding air travel has become the norm,” the agency’s experts explain. By contrast, other shifts in consumer behavior are helping to sustain oil demand. Among them are the fear of public transport, the increased popularity of SUVs and the delayed replacement of old cars.

The IEA’s Stated Policies Scenario envisions taking control of the coronavirus pandemic in 2021. In this case, the demand for oil will increase by 5 million barrels per day, but it will only reach the pre-crisis level in 2023.

At the same time, the peak of demand has already passed in developed countries, where oil consumption is below the 2005 maximum. By 2030, demand in EU countries, for example, will be 5 million barrels per day below the 2019 level. However, this decline will be fully offset by an increase in oil consumption in developing countries – by 9 million barrels per day by 2030.

If the fight against coronavirus is delayed (Delayed Recovery Scenario), then oil consumption will reach pre-crisis levels only in 2027.

Finally, the most radical scenario (Net Zero Emissions by 2050 Case), according to which humanity sets a goal to reduce CO2 emissions to zero by 2050, assumes that oil demand will drop from 98 million barrels per day in 2019 to 65 million barrels per day by 2030.

tass



15 Comments on "IEA expects global oil consumption to peak by 2030"

  1. makati1 on Sun, 18th Oct 2020 6:34 pm 

    The IEA is just another herd of corporate whores. Nothing they do is real or even worth reading. Leaches on the working stiffs who pay taxes.

  2. bochen787 on Sun, 18th Oct 2020 6:46 pm 

    Mak, I am sure glad you are here. Our China will be the next Empire. We are on the side of right !

  3. I AM THE MOB on Sun, 18th Oct 2020 7:07 pm 

    China warns U.S. it may detain Americans over prosecutions: WSJ

    https://www.reuters.com/article/us-usa-china/china-warns-us-it-may-detain-americans-over-prosecutions-wsj-idUSKBN2720XL

    China has turned into Nazi germany!

    And its harvest season in the states!

    Hold on to your mask!

    BYE BYE CHINA!

  4. makati1 on Sun, 18th Oct 2020 7:27 pm 

    Amerika has turned into Nazi Germany! So true! It is obvious to the rest of the world but not the dumbed down, brainwashed Amerikan tax slaves.

    The Chinese are just returning the same bullshit the US started. Amerika is being isolated from the rest of the world, one day at a time. GO TRUMP!

  5. Anonymouse on Sun, 18th Oct 2020 10:43 pm 

    In reality, amerika is much much worse than Nationalist Socialist Germany was in many respects, even at its worst, which often sensationalized to ludicrous degrees I might add. Amerika is the only regime to have ever employed atomic terror bombing, not once, but twice. And it has considered their use MANY times since, and is still considers their use valid and legimiate even today, and refuses to disavow first use. Hell, the uS wont even ban or outlaw LAND MINEs, FFS. Or cluster munutions, or White Phosphorus, Napalm. You get the idea….

    Nationalist Socialist Germany did inflict much physical destruction in its war, yes, but at no point, did they ever deploy any kind of WoMD, ie poison gas, even though they certainly had the means at their disposal to do so.

    Constast the Jewmerikans, have deployed their own chemical mentions countless times, and basically coated much of Iraq with depleted Uranium residue besides. Hitler only had one war to his credit. How many have the jewmerikans initiated since 1945?

  6. makati1 on Sun, 18th Oct 2020 11:12 pm 

    “American Involvement in Wars From Colonial Times to the Present”

    https://www.thoughtco.com/american-involvement-wars-colonial-times-present-4059761

    “DEATH TOLL FROM MODERN AMERICAN WARS KILLED IN THE NAME OF “FREEDOM” OVER 12 MILLION DEAD IN AMERICA’S WARS SINCE WORLD WAR II”

    http://www.worldfuturefund.org/Reports/Imperialism/usmurder.html

    “US Has Killed More Than 20 Million People in 37 “Victim Nations” Since World War II”

    https://www.globalresearch.ca/us-has-killed-more-than-20-million-people-in-37-victim-nations-since-world-war-ii/5492051

    Whatever the numbers, Amerika is a warmongering, terrorist country. Always has been. Will be until stopped. Soon, I hope.

  7. Abraham van Helsing on Mon, 19th Oct 2020 4:05 am 

    Amerika has turned into Nazi Germany! So true! It is obvious to the rest of the world but not the dumbed down, brainwashed Amerikan tax slaves.

    LOL.

    In reality the US is split 50-50 between those who (quietly) want white nationalism (“NAZI Germany-2.0”) and the other 50% want globalism, Marxism and racial mixing (USSR-2.0).

    They are now on the verge to fight it out. Whatever the outcome, America will be forced to step down from hegemony aspirations and will need to share power with other Biggies.

    https://documents1940.wordpress.com/2017/09/26/which-future-world/

    If the “Nazis” win, we get the world in the first map, of the Commies win, we get the second world map (Orwell, 1984).

    I bet 60-40 (and hope) that the “Nazis” will revolt and succeed in blowing the US and its empire up.

  8. Cloggie on Mon, 19th Oct 2020 6:45 am 

    Bilateral hydrogen cooperation Netherlands-Portugal:

    https://www.government.nl/latest/news/2020/09/23/portugal-and-the-netherlands-strengthen-bilateral-cooperation-on-green-hydrogen

    Upshot: Portugal produces renewable hydrogen, the Netherlands buys it.

    https://deepresource.wordpress.com/2020/05/02/portugal-plans-hydrogen-plant/

    “Portugal and the Netherlands Plan 1 GW Hydrogen Plant”

  9. Adriano on Mon, 19th Oct 2020 11:59 am 

    cloggie pathetic
    https://crashoil.blogspot.com/2020/10/asalto-al-tren-del-hidrogeno.html?m=1

  10. zero juan on Mon, 19th Oct 2020 12:01 pm 

    Ppee, we know this is you, lunatic:

    Adriano said cloggie pathetic https://crashoil.blogspot.com/202

  11. Cloggie on Mon, 19th Oct 2020 12:29 pm 

    cloggie pathetic
    https://crashoil.blogspot.com/2020/10/asalto-al-tren-del-hidrogeno.html?m=1

    Another joker who is claiming that hydrogen won’t work, because, you see, “hydrogen is not a source of energy”.

    Message for Adriano:

    NOBODY WITH A BRAIN HAS EVER CLAIMED THAT HYDROGEN IS A SOURCE OF ENERGY. It doesn’t need to be. It is merely a STORAGE MEDIUM. And exactly there lies its enormous value.

    Got it?

    The extraction process always involves a considerable loss of energy from the source that has been used to produce hydrogen synthesis (the most efficient electrolysis systems have losses of “only” 30% of the electrical energy used in the process

    Complete rubbish.

    https://en.wikipedia.org/wiki/Electrolysis_of_water

    “Considering the industrial production of hydrogen, and using current best processes for water electrolysis (PEM or alkaline electrolysis) which have an effective electrical efficiency of 70–80%, producing 1 kg of hydrogen (which has a specific energy of 143 MJ/kg) requires 50–55 kW⋅h (180–200 MJ) of electricity. At an electricity cost of $0.06/kW·h, as set out in the US Department of Energy hydrogen production targets for 2015, the hydrogen cost is $3/kg.”

    In the Sahara there are currently solar parks under development/realized where 1 kWh cost 1.5 cent or less. In that case we’re talking less than 1 dollar for 1 kg hydrogen = 39 kWh. Hydrogen can be converted in a fuel cell and mechanical energy at 70-80% conversion, which is far better than gasoline can do.

    https://deepresource.wordpress.com/2020/04/29/more-solar-price-erosion-abu-dhabi-2-gw-1-24-eurocent-kwh/

  12. Adriano on Tue, 20th Oct 2020 12:13 am 

    cloggie,Climbon photovoltaic mirrors

  13. LANA France moves to expel 231 jihadis after jihad murder of teacher who showed Muhammad cartoons on Tue, 20th Oct 2020 12:40 am 

    I’ll buy these muzz 10 cents amputated and 5 cents unamputated.
    I’ll sell them $200 each for sex slavery to the elites

    I’ll pay double for top rank muzz

    I also put then to work farming no crop no eat

  14. Cloggie on Wed, 21st Oct 2020 3:38 pm 

    Es geht los!

    Germany is probably the first country to allow level 4 autonomous driving on its roads as of summer 2021:

    https://deepresource.wordpress.com/2020/10/21/germany-about-to-be-ready-for-autonomous-driving-level-4/

  15. Malcolm J Wardlaw on Thu, 22nd Oct 2020 1:35 am 

    The Hydrogen Economy is a propaganda trope to keep the Fatted Masses believing they can keep their pretty autocentric lifestyles. In reality, it’s too wasteful to become scaled up to replace fossil fuels in transport. A process that takes the highest grade of energy we have – electricity – and wastes about 75% of it in an expensive infrastructure is never going to be more than a distraction to keep the Fatted Masses dumb.

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