“We’ve long been of the opinion that demand will peak before supply,” said Shell Chief Financial Officer Simon Henry, in a Tuesday conference call. “And that peak may be somewhere between 5 and 15 years hence, and it will be driven by efficiency and substitution, Royal Dutch Shell, the world’s second-biggest energy company by market value, thinks demand for oil could peak in as little as five years, a rare statement in an industry that commonly forecasts decades of growth. “We’ve long been of the opinion that demand will peak before supply,” chief financial Shell CEO: Peak oil demand could arrive in late 2020s. The global demand for oil could peak as soon as the late 2020s as the world continues to rely more on natural gas and renewable energy sources, Royal Dutch Shell CEO Ben van Beurden said Thursday at the CERAWeek by IHS Markit conference in Houston. But some of the world’s leading oil companies now see peak demand and sustained lower crude prices as a risk that they need to prepare for. Royal Dutch Shell has suggested the peak could come as early as the late-2020s. Statoil believes it could be between the mid-2020s and the late-2030s. Not everyone agrees. The International Energy Agency forecasts a 10 percent rise in oil demand through 2040, reflecting the consensus among oil firms. The earliest estimate for peak oil demand from any oil company is late next decade, by Shell CEO Ben van Beurden. Total, a principal player in the oil market, confirmed the trend when it published its Oil Product Demand study on September 25, 2017 5. The study’s scenario tests hypothetical impacts caused by the various factors driving down future demand and reckons that global oil demand will jump 11 percent by 2040.

Chart 1 – World oil demand (Mb/d) There is wide range of estimates of the point at which oil demand is likely to peak. Some projections suggest global oil demand could peak soon after 2025, others expect demand to continue to grow out to 2040 and beyond.

18 Sep 2018 When Royal Dutch Shell CEO Ben van Beurden said earlier this year that demand for oil could peak as early as 2025, it was a major headline. 27 Jul 2017 The world's oil consumption could peak as early as the end of the next decade as electric vehicles become more popular, Royal Dutch Shell 

Royal Dutch Shell, the world’s second-biggest energy company by market value, thinks demand for oil could peak in as little as five years, a rare statement in an industry that commonly forecasts decades of growth. “We’ve long been of the opinion that demand will peak before supply,” chief financial

Oil demand could peak in about 10 years, says Shell CEO, sooner than others forecast “We’ve long been of the opinion that demand will peak before supply,” said Shell Chief Financial Officer Simon Henry, in a Tuesday conference call. “And that peak may be somewhere between 5 and 15 years hence, and it will be driven by efficiency and substitution, Energy watchdog International Energy Agency does not expect oil demand to peak before 2040. Shell, which has been producing oil since 1907, and its peers are increasingly switching to

Shell CEO: Peak oil demand could arrive in late 2020s. The global demand for oil could peak as soon as the late 2020s as the world continues to rely more on natural gas and renewable energy sources, Royal Dutch Shell CEO Ben van Beurden said Thursday at the CERAWeek by IHS Markit conference in Houston.

22 Feb 2019 BP's 'Peak Oil' Demand Prediction Falls Flat and storage battery investments: " Shell is Wrong: Global Oil Demand Can Only Increase.". 9 Mar 2017 Royal Dutch Shell (RDSA) CEO Ben van Beurden said Thursday that oil demand could peak as early as next decade, a sharp departure from 

“We’ve long been of the opinion that demand will peak before supply,” said Shell Chief Financial Officer Simon Henry, in a Tuesday conference call. “And that peak may be somewhere between 5 and 15 years hence, and it will be driven by efficiency and substitution,

Royal Dutch Shell, the world’s second-biggest energy company by market value, thinks demand for oil could peak in as little as five years, a rare statement in an industry that commonly forecasts decades of growth. “We’ve long been of the opinion that demand will peak before supply,” chief financial

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