A Glimpse Into The Post-Oil Era: How The Uneven Impacts Of 2025-2030 Peak Oil Demand Will Shape The Future Of Energy

Peak oil demand is the point at which the consumption of oil reaches its maximum level before it starts to decline. The timing of peak oil demand is a topic of ongoing debate among firms, analysts, and experts in the energy industry, but major firms and analysts are trending to this decade.

For example, the International Energy Agency (IEA) has predicted that oil demand could peak as early as the mid-2020s. BP’s Energy Outlook has projected that oil demand could peak in the early 2030s. Equinor, a Norwegian multinational energy company, in its Energy Perspectives has projected that oil demand will peak before 2030, and the use of electric cars will play a significant role in reducing oil consumption, however, road transportation will remain a key user of oil-based products. McKinsey, the global consulting firm which deals extensively with the fossil fuel industry, projects late this decade for peak oil demand, and that it could occur earlier.

Read more: A Glimpse Into The Post-Oil Era: How The Uneven Impacts Of 2025-2030 Peak Oil Demand Will Shape The Future Of Energy