Global oil demand may have hit the peak in 2019 and natural gas will follow suit around 2025, the director-general of International Renewable Energy Agency said March 16, as the energy transition gathers pace, echoing forecasts made by BP last year. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Under a 2050 scenario that meets the Paris Agreement’s commitment to limit global warming to 1.5 C, fuel use is forecast to decline by more than 75% if energy transition policies are enforced now, IRENA said in its World Energy Transitions Outlook. Under the 1.5 C scenario, global oil production is projected to plummet by 85% to slightly above 11 million […]