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

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

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Michael Holder
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Michael Holder

Environmental journalist and editor

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