IEA Predicts Peak in Global Oil Demand This Decade
TL;DR Summary
The demand for crude oil is expected to peak before the end of the decade as electric vehicle adoption surges and developed nations transition to cleaner sources of energy. This shift is expected to slow the rising demand for crude oil to a trickle within five years. Nickel, an essential component of electric vehicle batteries, is heavily mined and processed in Indonesia, resulting in significant environmental costs.
- Oil Demand Expected to Peak This Decade as EVs Boom The Wall Street Journal
- Global oil demand to peak before the end of the decade as energy transition gathers pace, IEA says CNBC
- Peak in oil demand is on the horizon, IEA says CNBC International TV
- Oil Demand Growth to Slow Sharply as Peak Nears, IEA Says Yahoo Finance
- Global Oil Demand Is Set to Slow The New York Times
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