The sun may be setting on the traditional petrol station
You will never guess who just declared peak gasoline…
The IEA has called the top of global demand, although it predicts demand for oil will continue to rise
The IEA surprised analysts and rippled oil markets last week when it declared global gasoline demand has now peaked. The call is uncharacteristically bold for the Paris-based agency, which has historically waited until trends are well established before raising the flag on such forecasts. While short-term reactions in the price of oil are often ripe for over-interpretation, Brent fell $4/bl on the week from $68 to $64, and actually touched $62 the day after IEA released its Oil 2021 report. If its outlook is correct, the downstream implications are significant in everything from the business of petrol filling stations to the refining industry. OECD gasoline demand has been stagnant for
Also in this section
28 March 2025
The massive expansion of the Northern Lights project in Norway is the clearest sign yet that the European oil and gas companies mean business when it comes to CCS
27 March 2025
Awards celebrate global innovation, leadership and achievement across the energy sector’s people, projects, technologies and companies.
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
14 March 2025
Ignoring questions of sustainability will not make the problems they focus on go away
