BP: Oil will peak in the late 2030s

The transportation sector will need oil for at least several more decades, says BP. But starting in the late 2030s, renewable energy will slow down oil demand, predicts the firm.

Photo: Reni-DS

The market for personal transportation is poised for a revolution where electric cars will become the dominant type of vehicle, and fossil-fueled engines will become a thing of the past.

This much is certain, says BP in the company's Energy Outlook 2018, presented Tuesday.

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