OPEC report: Oil demand could peak in 2029
If the Paris climate accord is met and fully implemented, the global demand for oil could peak by as early as 13 years from now, writes OPEC in a market report. In another scenario, the organization projects that demand will peak in 2040.
The demand for oil could peak as early as 13 years from now if the environmental requirements set out in the climate accord from last year's summit in Paris are successfully met, projects OPEC in its annual market report in which the Organization of Petroleum Exporting Countries takes a closer look at how the market could develop over the next 25 years.
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