Global oil demand will peak after 2030

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Arlene Hamel, director of sustainability and The strategy of Total Energy Company said in this bare: The first reason for population growth is weak investments in the electricity network and lower than expected sales of electric cars around the world.

He added: Today, about 4.5 billion people in less developed countries suffer from energy poverty, if we add the expected population growth until 2050, the current production Energy should be multiplied by 4 to get them out of energy poverty.

The annual report presented three scenarios of current trends, a relatively ambitious “movement” and a “discontinuity” in line with the Paris climate agreement.

Total Energy announced: The world is now on track to consume 90 million barrels of oil per day in 2050, which will peak after 2035 based on current demand trends.

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On the other hand, BP expects oil to reach its peak in the next year and its consumption will be around 75 million barrels per day in 2050.

According to the Total scenario, oil demand will peak just after 2030 and reach 70 million barrels per day in 2050.

The Paris climate change scenario requires oil demand to peak before 2030 and consumption to decrease to 44 million barrels per day in 2050.