Global oil demand to disappoint
Peak requirements may be here much quicker than in some forecasts
Oil consumption is expected to continue to grow through 2040, albeit at an increasingly gradual pace, according to base case scenarios from major oil forecasting organizations such as the International Energy Agency (IEA). But there are reasons to conclude oil demand will peak sooner rather than later, and the decline may be surprisingly precipitous thereafter. Slower than expected economic growth because of US-China tensions; greater concern about oil security given this new superpower rivalry, as well as the vulnerability of key oil infrastructure in an unstable Mid-East Gulf; more powerful environmental movements targeting climate change, local air pollution and oil-based plastics; and t
Also in this section
9 January 2026
OPEC+ remains on track as output falls, with only Gabon failing to hit its output targets in December, although Kazakhstan’s compliance was involuntary
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
