OPEC recently discussed the future of fossil fuel demand. They predict a peak occurring in 2036. However, this projection is dependent on upcoming socio-economic and technological developments.
Petroleum demand will remain high due to use in other sectors beside road transportation. Decreasing reliance on coal will necessitate more use of gas, causing the demand for the latter to peak only by 2045.
OPEC emphasized the importance of countries investing in innovative energy technologies. Clean and efficient energy should be the global agenda, with fossil fuels playing a certain role in the transition towards renewables.
Read source article here:
https://www.oilfieldtechnology.com/special-reports/15092023/opec-has-made-a-statement-on-peak-fossil-fuel-demand/
