When will oil demand peak ? The very fact that the question focuses on demand rather than supply is in itself remarkable, given where conventional wisdom on the subject stood only a decade ago. Now there is a consensus that demand will peak first but there is no agreement on when that peak will come. Shell speculated a few weeks ago that it would be within five to 15 years. The Opec producers’ cartel suggested recently that the peak could come in about 2029. But the International Energy Agency in its latest World Energy Outlook predicts that oil demand will be rising up to 2040. Read more
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