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Rystad: Oil to Peak in 2026

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The rapid adoption of electric vehicles (EV) around the world will probably cause global oil demand to peak two years earlier than previously expected, Norway’s biggest independent energy consultancy Rystad said on Wednesday.

World demand is now seen peaking at 101.6 million barrels of oil per day (bpd) in 2026, down from a forecast made in November of a peak in 2028 at 102.2 million bpd, Rystad Energy said.

“The adoption of electrification in transport and other oil-dependent sectors is accelerating and is set to chip away at oil sooner and faster than in our previous forecast,” Rystad wrote.

Before the outbreak of the COVID-19 pandemic in early 2020, Rystad had anticipated that peak oil demand would be reached in 2030 at 106 million bpd.

Aside from the staggering takeover of EVs, assumptions across all our scenarios see oil demand being either phased out, substituted, or recycled across a range of sectors, it said.

OE Digital

26 Comments on "Rystad: Oil to Peak in 2026"

  1. makati1 on Thu, 22nd Apr 2021 6:49 pm 

    Oil to Peak in __________(fill in the blank)! Electric replacing oil? Hahahahaha!

    More guesses to hype the market casino. No one knows what tomorrow will bring. 2026 is forever.

  2. WowItIsEvenMoreDepressingThenIThought on Thu, 22nd Apr 2021 6:55 pm 

    I was having my prostate medicine. After the medicine was administer,It was just amazing the number of deep fake porn (it was well done) and the number of reptilians porn actors. I eventually found this piece of information. I decided to investigate reptilian and the porn industry. I guess this is whole universe is a big free for all of different species fighting together. So really reincarnation is not a blessing, it is a curse.

  3. ItIsAWasteOfTimeItIsWorseThenIThought on Thu, 22nd Apr 2021 7:40 pm 

    In engineering, we have what we called a steady state system or process, df(x)/dt=0. It is a system that stay in the steady sate because the forces acting on it stay in steady state. It is really to mathematically model this because df(x)/dt=0

    Now it is a fucking different game with a chaotic system, you cannot model this or predict its future behavior. It is a waste a time to fight such system. I don’t like to waste my time fighting against chaos.

    This fucking universe is exactly what I was expecting, chaos everywhere with no predictable outcome. Waste of time fighting this. You basically never win long term, you have small victories here and there, and that is it.

    All this all, surround around human being soul, that for some reason are precious. SO we always going to be a target from one group of aliens or another. Extinction of the human race is the way to go. Extinction is like saying fuck you to the creator for such a shit system that put us at a disadvantage like that.

  4. ItIsAWasteOfTimeItIsWorseThenIThought on Thu, 22nd Apr 2021 8:09 pm 

    This is such a shit deal. It is not worth it to fight for such a crappy deal. Fuck that. Basically the creator is even more sadistic then Satan. At least with Satan you get good carnal sex. What do we get in exchange for such a shitty deal.

  5. GODIsSuchAShittyDesigner on Thu, 22nd Apr 2021 8:25 pm 

    So basically, the universe is a shitty design to start with. So anyone that has the power to create within this universe can create anything he wants. This will result in total chaos and even the death of this universe. I am impress by the creator logic.

  6. FamousDrScanlon on Thu, 22nd Apr 2021 9:17 pm 

    God hater, isn’t the universe’s purpose to kill itself via reducing all gradients?

  7. IGuessYouCanCalledEntropy on Thu, 22nd Apr 2021 9:22 pm 

    God hater, isn’t the universe’s purpose to kill itself via reducing all gradients?


    It is called entropy.

  8. HereIsMySolutionAgainstReptilians on Thu, 22nd Apr 2021 9:39 pm 

    So the reptilian control everything: porn industries (PornHub), internet industries(YouTube), all the institution like UN, WHO, WTO,WEF, all politicians, judge, polices forces, financial institutions from all nations. So I get it right then, collapsing electrical grid, water distribution system, financial system and international trade is the solution to this.

    So global cooling is a act of GOD to restore balance on earth, so basically GOD and I have the same solution to clean up earth. Right

  9. Cloggie on Fri, 23rd Apr 2021 6:15 am 

    It’s not all bad with Biden:

    “‘We have to step up’: Biden commits to 50% cut to US emissions by end of decade”

    “US and EU climate targets ‘worth gold’ for Vestas: Sydbank”

    Never before in history has a form of energy so being promoted globally, as is the case with renewable energy. When it comes to energy and environment, Trump WAS a buffoon.


    The Seven Sisters are being blown out of the water. Couldn’t happen to a more deserving bunch.

    And the winner is… Europe!

  10. Adriano on Fri, 23rd Apr 2021 6:42 am 

    Makati, peak oil was in 2018 at 101.8 mbd

  11. Cloggie on Fri, 23rd Apr 2021 6:50 am 

    “Renewable energy is gold”, says Danish bank:

    “EU & US Climate Targets “Gold” for Renewable Energy Industry”

  12. Biden's hairplug on Fri, 23rd Apr 2021 8:48 am 

    God hater, isn’t the universe’s purpose to kill itself via reducing all gradients?


    It is called entropy.

    Increasing entropy only applies to dead matter and people like you.

    Civilization is the human victory over entropy.

    Go play a game of patience on your tablet and complete it successfully, to get the point. Completing a jigsaw puzzle does the trick as well.

    First there was dead matter. Add talented humans, et voila, there’s Chambord:

    Where is the increasing entropy, I’m asking you?

    Life defies entropy.

    First there was the primordial soup, Eventually the entire universe becomes God.
    If you want to meet God, look in the mirror (but not if you party-ed too hard the night before).

  13. FamousDrScanlon on Fri, 23rd Apr 2021 1:24 pm 

    ‘Civilization is the human victory over entropy.’

    Which one? All the dead ones behind us or this dying one?

    Why would a recluse like you care clog?

    Civilization is comprised of people. The vast majority of people in the world reject everything you stand for (except solar panels).

    You are not part of Civilization. If not for the internet, you’d be talking to the walls all day.

    If you’re not engaging with real live humans on a regular basis, you’re not being a human.

    Isolation is unhealthy clog. You should join a bridge club er something.

    At least get a puppy & raise it. Caring for someone other than yourself will be good for you clog. Plus dogs are fun & will love you regardless of the fact that you’re a cunt.

  14. Biden's hairplug on Fri, 23rd Apr 2021 2:43 pm 

    Kunstler documenting the unraveling of the US:

  15. makati1 on Fri, 23rd Apr 2021 4:32 pm 

    Adriano, and you can prove that statement?

    Odd that, pre fraking, there were people claiming that the peak had passed already. Then came a new source…like, the Arctic and the S.C.S.. Oil consumption is singing back to pre 2020 levels already, along with coal and NG.

    FFs are here to stay.

  16. makati1 on Fri, 23rd Apr 2021 4:41 pm 

    BTW: Venezuela has ~300,000,000,000 barrels to recover. (Why do you think the U wants to take over that country if not for oil?) At 100,000,000 barrels per day, that is enough for 3,000 days or about 8 years. Then there is Canada with 167,000,000,000 barrels…

    Peak oil past? Hahahaha!

  17. LOL ZOMFG you guyes i know some wrong when a pretty little white girl ran to a black man arms dead giveaway deeeeeeeeeed giveaway my neighbor got big testicles cuz we see this dude everyday we ate ribs with this dude on Fri, 23rd Apr 2021 5:56 pm 

    LOL guyes
    supertard at deagel read this board and pulled forecast of 99M ameriakans in 2025 LOL
    thanks dropout-19 for offing 250 amerianks with his own semen in MUZZ-19

    please feel at ease among friends we’re all supremacist muzzie lovers here

  18. FamousDrScanlon on Fri, 23rd Apr 2021 8:52 pm 

    A dangerous misunderstanding

    “..because we are no longer in the age of industrial growth. Wherever governments sit on the intervention v laissez faire continuum, and irrespective of whether they favour fiat or metal-backed currency, inflation – by its modern definition – is inevitable because the energy and resources available to the economy will be shrinking faster than the supply of currency. The only serious question to be answered is whether governments should attempt to manage this inevitable process of de-growth – trying to leave as few people as possible behind – or whether they should allow nature, red in tooth and claw, to take its course. Sadly though, they will do neither – at least until it is far too late – simply because the religion of progress has too great a grip on our collective psyches. Governments will continue to treat each new crisis – including the post-pandemic rebalancing – as no more than a blip on the road back to the glory days of the 1953-1973 boom… even as that golden age passes from living memory to the dead pages of the history books.”

    Tik tok tik tok the is late…..very late.

  19. Adriano on Sat, 24th Apr 2021 6:32 am 

    scientific proof does not exist, nis can. Ron Patterson of Peak oil barrel also agrees.

  20. Adriano on Sat, 24th Apr 2021 6:57 am 

    anyway EROEI condemns Venezuela, Alberta and Bakken to a very uncertain future.

  21. Duncan Idaho on Sat, 24th Apr 2021 1:15 pm 

    Makati, peak oil was in 2018 at 101.8 mbd

    We have a winner

  22. makati1 on Sat, 24th Apr 2021 4:54 pm 

    Look at the chicken guts readers telling us they know all about the oily stuff and when it was over. More Western insanity.

    Meanwhile, I start another day by watching the US implode, along with the UK, Australia and Japan. India is already gone.

    Also watching the hot spots where the US is trying desperately to start WW3: Ukraine, Taiwan, and Iran. So far, they are failing as they fail at everything they try. LOL

    Amerika is now a very obvious mental institution bounded by two oceans. The world is turning away and towards the East. This is China’s century.

  23. Mick on Sun, 25th Apr 2021 4:09 am 

    Hey y’all I haven’t been on here for 6 months and after frequenting this site for years came to the conclusion that this whole site is a waste of time nothing has changed after 15years things are pretty much as they were then including oil price so I would suggest to everyone get on with your lives
    and not contribute to revenue earnings for this website

  24. Biden's hairplug on Sun, 25th Apr 2021 5:21 am 

    “Hey y’all I haven’t been on here for 6 months and after frequenting this site for years came to the conclusion that this whole site is a waste of time”

    Can’t wait to see you back in 6 months time. You know what, make that 6 years.


  25. Antius on Wed, 28th Apr 2021 5:06 pm 

    Another one of those Peak Oil Demand articles that basically say ‘yes, oil production is going to peak, but only because we are moving on to something better’. The problem is that the ‘something better’ won’t be affordable to most people and doesn’t really solve the peak oil problem.

    The electric vehicle revolution is something that only applies to passenger cars at present. In the US, this accounts for 25% of total oil energy demand, most of it gasoline, which is a byproduct of the refining process, whose most valuable product is diesel.

    It is diesel that makes the world go round. It powers the heavy trucks, the container ships and the trains that deliver real goods. It powers construction and mining equipment.

    Eliminating consumption of gasoline in private vehicles using battery power, is an expensive way of solving for lesser part of our collective problem. And it won’t be affordable to most consumers. In fact, reducing gasoline consumption will eliminate a revenue stream for refiners and could push up the price of diesel.

    So no, electric cars will not put much of a dent in global oil demand. They will do very little to mitigate the real problem of peak oil, which is Peak Diesel.

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