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Page added on November 28, 2020

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Pandemic brings forward predictions for peak oil demand


The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak.

The rise of electric vehicles and a shift to renewable energy sources were already prompting downward revisions in forecasts for long-term oil demand.

While there is no consensus on when oil demand could peak, the revised predictions mark a boon to the fight against climate change and could weigh on oil companies’ plans to explore for and develop new resources.

One Comment on "Pandemic brings forward predictions for peak oil demand"

  1. makati1 on Sat, 28th Nov 2020 4:51 pm 

    Writing for $$$. More oily bullshit to keep the investors (suckers) on board the sinking ship petroleum. Yawn!

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