IEA: Peak oil 'within sight' this decade as EVs continue to destroy demand

Michael Holder
clock • 6 min read
Credit: iStock
Image:

Credit: iStock

Oil use in transport set to decline from 2026, but strong petrochemicals demand could provide oil majors with new markets

Growth in global demand for oil is set to slow significantly over the next five years and could grind to a halt as high prices and security of supply concerns continue to accelerate the shift towards cleaner...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

High Court rules 28 oil and gas exploration licences were lawful

High Court rules 28 oil and gas exploration licences were lawful

High Court upholds oil exploration licences granted under previous government, but says further approvals must account for ocean harm

Stuart Stone
clock 28 November 2025 • 5 min read
Watch Podcast LIVE! ESG partnerships that power the energy transition

Watch Podcast LIVE! ESG partnerships that power the energy transition

WATCH: Podcast Live! participants answer audience questions as they explore what effective, sustainable partnerships look like in practice

BusinessGreen Staff
clock 28 November 2025 • 3 min read
Everyone can benefit from smart, flexibility energy - Britain cannot afford climate denial and delay

Everyone can benefit from smart, flexibility energy - Britain cannot afford climate denial and delay

Clean energy and smart flexibility are not only popular among the public but essential for Britain's future, writes the REA's Frank Gordon

Frank Gordon, REA
clock 28 November 2025 • 3 min read