Wood Mackenzie: World Peak Oil Demand Expected in 2036

Peak oil demand is expected to reach 2036 as electric vehicles and autonomous vehicles are expected to play an increasingly important role in the global transportation sector, the Financial Times reported on Monday.

"Autonomous electric vehicles or robo-taxis will really change the face of transportation in the coming decades," said Ed Rawle, director of crude oil research at Wood Mackenzie, FT

. EVs and robo taxis will become commercial by 2030 and will gain wide acceptance by 2035. According to Woodmac, every standalone EV should move more oil demand than the conventional VE.

they are self-reliant, displacing a disproportionate amount of oil-based transportation, "said Mr. Rawle, quoted by the FT.

Over the next ten years, the biggest drag on oil demand will be Energy efficiency According to Wood Mackenzie, solin demand is considered the first oil-based fuel to reach its peak by 2030.

Other sources of oil, including Petrochemicals will become stronger than the demand for gasoline.] Many companies, including Saudi Aramco, are betting on petrochemicals to ensure long-term demand for its crude oil. Related: Demand Growth Chinese oil could slow down soon

Aramco, however, says that there is no "imminent peak demand", and that "global oil demand will continue to grow and that will keep his meadow eminence in the global energy mix for the foreseeable future. "

But European oil majors have begun to project in recent years that the world is expected to reach peak demand in two decades, or possibly earlier, and has begun to incorporate these projections into their" energy transition "scenarios.

BP, for example, expects a peak oil demand in the 2030s, electric vehicles accounting for about a third of the auto market. Equinor expects peak demand to reach about 2030 billion bpd on the current market as the electrification of road transport and efficiency gains in all sectors offset the growth of petrochemicals and aviation.

Tsvetana Paraskova for Oilprice.com

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