Vitol CEO sees global oil demand peaking in 10 years

Global oil demand could peak already 10 years from now, projects Ian Taylor, CEO of the world's biggest oil product trading house, Vitol.

by OLE ANDERSEN

The global demand for oil could peak already 10 years from now, or in the period 2028-2030, due to the growing pace of the transition toward, among others, electric cars and away from fossil fuels, said Ian Taylor, CEO of the world's biggest oil trading house, Vitol, in a speech in London, reports Reuters.

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