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BP Believes Oil Demand Will Peak Near 2030 As Shift To Renewables Accelerates ...Middle East
Global oil demand is expected to peak between the late 2020s and early 2030s as the Russian invasion of Ukraine is accelerating investment in clean energy and governments are looking to bolster energy security with higher shares of renewables in the energy mix, BP said on Monday. In one of the most closely-watched industry reports, the BP Energy Outlook 2023 with projections through 2050 says that oil demand falls over the outlook in all three scenarios as use in road transportation declines. “Global oil demand plateaus over the next 10 years…
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