Peak oil in less than a decade: Rystad
CEO makes bullish prediction on the energy transition and suggests investment in oil and gas will never again hit 2014 record
Peak oil consumption will happen much sooner than the industry expects—by the end of the 2020s—according to the CEO of Rystad Energy. Rystad Energy’s sector-by-sector analysis predicts peak oil consumption before the end of the decade and “then a steady decline after that”, Jarand Rystad told the Oil & Gas Council’s World Energy Capital Assembly (Weca) conference in London. He added that peak gas will follow “maybe” 10 years later. The transition would happen even in the absence of climate change, he says, due to local pollution legislation and technological development on the supply side, particularly in solar power generation, as well as the demand side, including from EVs. “Those two
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
