Economics
Will global oil demand peak before the end of 2029?
An economics prediction concerning energy transition speed and shifting industrial consumption patterns.
72 total votes
Analysis
Will Oil Demand Peak by 2029?
Debates over the global peak in oil demand intensify yearly. With EV adoption accelerating and renewable energy scaling, many analysts believe oil demand could peak by 2029.
Reasons Oil Demand Might Peak
EV penetration is rising quickly, especially in China and Europe. Governments are pushing aggressive decarbonization targets. Technological breakthroughs in batteries and efficiency may accelerate substitution away from petroleum.
Reasons It Might Not
Emerging markets continue to industrialize rapidly. Aviation, petrochemicals, and heavy transport remain heavily oil-dependent. Global demand could remain stable longer than expected.
This prediction tests how fast the world can truly transition from fossil fuels.