French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, as more nations crack down on fossil fuels and promote cleaner power in transport and industry to mitigate global warming. Total’s 2021 Energy Outlook, which takes into account new net-zero pledges made by countries including the U.S. and China, assumes crude demand will plateau before 2030 and then decline, the company said Monday in a statement . Although Total sees the pace of emissions reductions accelerating by 2050, governments and businesses still need to do more to achieve the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius compared with pre-industrial levels. “There is a key trend, which is electrification,” mainly in renewables, TotalEnergies Chief Executive Officer Patrick Pouyanne said Monday on a conference call. “The energy world is moving quickly.” Total’s Momentum scenario, which is based on environmental targets […]