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
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
