Unpacking the key unknowns that will drive peak oil

A growing divergence in views on the trajectory of oil demand over the next 25 years – and whether demand will even reach a peak during this period – partly reflects the reduction in political support for the energy transition. While the balance of risks has shifted towards a later peak and more gradual decline in oil consumption thereafter, we still think that oil demand is likely to peak in the 2030s.

We will be discussing what’s driving commodity markets and where prices are headed through the rest of this year and into 2026 in a Drop-In on Thursday 20th November at 1000 ET/1500 GMT. Register here for the 20-minute online briefing.