Rystad predicts peak oil demand in 2026

Expanding adoption of electric vehicles has the Norwegian energy analysis firm moving its expectation for peak demand ahead a few years.

Photo: Dronebase dronebase/REUTERS / X06507

by MATHIAS JULIUS FALKENGAARD

Global crude demand in 2026 will be an estimated 101.6 million barrels of oil per day, thereby setting a record that will never again be matched or surpassed, forecasts Rystad Energy in a new prognosis and thus moves its prediction date for peak demand ahead by two years. After 2030, the firm foresees demand falling to less than 100mbpd.

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