Has Oil Demand Peaked?
1. BP sees oil demand already at a peak – BP (NYSE: BP) made major headlines this week when it released its latest energy outlook, which laid out three scenarios, Continue Reading
BP Sees Peak Oil, Even Without Major New Laws on Climate Change
One of the biggest international oil companies has concluded that oil consumption will peak this decade. That’s the main takeaway from BP Plc’s annual energy outlook published this week outlining a handful of scenarios Continue Reading
What BP Got Wrong About Global Oil Demand
Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook 2020. It Continue Reading
Total CEO predicts peak oil by 2040
Speaking at the ONS Digital Conference in a video presentation, Patrick Pouyanne, the CEO of Total SA, said he now expects oil production to peak between 2030 and 2040, although Continue Reading
The End of Oil Is Near
THIS PAST SPRING, coastlines around the globe took on the feel of an enemy invasion as hundreds of massive oil tankers overwhelmed seaports from South Africa to Singapore. Locals and Continue Reading
After Decades of Wrong Predictions, Oil May Finally Be Peaking
After one of the most dramatic stretches in its history, the oil industry is slowly recovering. March and April saw the toxic combination of depressed demand, excessive supply, limited storage Continue Reading
Shale boss says US has passed peak oil
US crude production has already peaked, according to one of the country’s leading shale executives, as producers battered by the price crash shun new output growth and start trying to Continue Reading
Global oil demand unlikely to have peaked due to pandemic: IEA’s Birol
Global oil demand will likely to recover to above pre-pandemic levels in the future despite some predictions that the crisis may have already triggered a structural decline in world oil Continue Reading
How the Pandemic Is Changing the Outlook for Peak Oil
One big question emerging from the pandemic is whether it will speed up the global shift away from oil. Life under lockdown gave a taste of a world that burns Continue Reading
Oil, fossil fuel demand may have peaked in 2019 thanks to COVID-19: report
Both crude oil and overall fossil fuel demand may have permanently peaked in 2019 if a slower economic recovery from the coronavirus pandemic becomes reality, hastening the arrival of peak Continue Reading
Are We Nearing Peak Oil Supply?
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-U.S.$20 a barrel in this downturn Continue Reading
Prospect Of Peak Oil Demand Puts Cap On Total Global Oil Reserves
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas Continue Reading
Kurt Cobb: Peak World Oil Production?
We who have been suggesting that a peak in world oil production was nigh almost from the beginning of this century looked like we might be right when oil prices Continue Reading
Peak Oil Isn’t Here But It Could Be In Sight
By one oil consultancy’s estimate, Peak Oil will be here by 2028, or two years sooner than it previously had predicted, according to Reuters . That ceiling would be somewhere Continue Reading
A stealth peak in world oil production?
We who have been suggesting that a peak in world oil production was nigh almost from the beginning of this century looked like we might be right when oil prices Continue Reading
Has Demand For Oil Already Peaked?
Oil prices continue to rise on the prospect of a rebound in fuel demand as economies begin to reopen. But there is a large difference between oil demand rising from Continue Reading
Is November 2019 the New US Peak Oil Date?
Here I am again reporting on out of date US February oil production from the EIA April report after the world oil environment has been turned on its head. Fortunately Continue Reading
This Is What The End Of The Oil Age Looks Like
The Oil Age has powered the world for well over a century. There have been two general schools of thought about how it will ultimately end. There were those who Continue Reading
This Oil Major Expects Its Oil Production To Peak In 2025
Italy’s Eni expects its oil production to start declining after 2025 under its new long-term strategy to rely on natural gas, renewables, and new technologies to cut net greenhouse gas Continue Reading
Eni plans oil, gas production ‘plateau’ in 2025 under energy ‘evolution’
Highlights Sees gas making up about 85% of total production in 2050 Eni targets 80% cut in net GHG emissions by 2050 To convert all Italian refineries to biorefining sites Continue Reading
Will peak oil save Earth’s climate?
In spite of record increases in solar and wind energy development, human carbon emissions continue to rise because, over the last decade, fossil fuel use has grown ten-times faster than Continue Reading
Many signs of peak oil and decline
Recently the IEA 2018 World Energy Outlook predicted an oil crunch could happen as soon as 2023. Oil supermajors are expected to have 10 years of reserve life or more, Continue Reading
Peak oil demand could arrive much sooner than expected, says oil firm
Repsol has drilled oil wells in Libya Benjamin Lowy/Getty Images The world’s appetite for oil could peak within five years, according to one of Europe’s biggest oil and gas firms Continue Reading
Explaining Peak Oil the Easy Way
A reader has written to me to say that she does not completely understand if we have a serious problem with oil or not, and I have written her a Continue Reading
Peak oil demand is now
The theory of “peak oil demand” was a techno-utopian response to the supposed debunking of the peak oil theory first set out by M. King Hubbert in the 1950s. Hubbert’s Continue Reading
Peak Oil Postponed… Again: US EIA International Energy Outlook
The U.S. Department Of Energy Says More Oil, More Natural Gas Numerous energy headlines from this past week alone caught my attention. They perfectly illustrate the massive scale of investment Continue Reading
Peak Oil Demand Is Coming, Will Transform Exploration Sector
The global trend toward alternative energy sources and shifting stakeholder sentiments could mark the demise of the oil and gas exploration sector. It may also represent an opportunity to transform. Continue Reading
Oil demand won’t peak until 2035
“At some point in the next 20 years, it’s likely we’re going to see oil demand peak. Our own view at Wood Mackenzie, is around 2035, 2036,” Wood Mackenzie chairman Continue Reading
Oil Shock Model Scenarios
Many different oil shock model scenarios have been presented over time at Peak Oil Barrel. Information on the Oil Shock Model, originally developed by Paul Pukite can be found in Continue Reading
The Slow Death Of Californian Oil & Gas
Entrepreneurs in California were pioneers of the American oil industry in the 19 th and the beginning of the 20 th century. One of the oldest still producing oil fields Continue Reading
The Largely Ignored Problem Of Global Peak Oil Will Seriously Hit In A Few Years
The era of oil is coming to an end, with global oil production set to halve in the next five to six years. To avoid a global economic slump, the Continue Reading
Michael Lynch: The Curious Incident Of The Oil Supply That Didn’t Decline
Interestingly, there are still peak oil advocates who think that we’ve reached peak oil now, despite the fact that shale oil production is still growing, OPEC+ has about 1.5 mb/d Continue Reading
Was 2018 The Peak For Crude Oil Production?
The following OPEC charts were created with data from the OPEC Monthly Oil Market Report . All OPEC charts are through February 2019 and is in thousand barrels per day. Continue Reading
Gail Tverberg: Have We Already Passed World Peak Oil and World Peak Coal?
General Ideas Most people expect that our signal of an impending reduction in world oil or coal production will be high prices. Looking at historical data (for example, this post Continue Reading
Gail Tverberg on Peak Oil
A few years ago, especially in the 2005-2008 period, many people were concerned that the oil supply would run out . They were concerned about high oil prices and a Continue Reading
Peak Diesel or no Peak Diesel? The Debate is Ongoing
In a recent post , Antonio Turiel proposed that the global peak of diesel fuel production was reached three years ago, in 2015. Turiel’s idea is especially interesting since it Continue Reading
Will peak oil save Earth’s climate?
This year, international delegates gathered in Katowice, Poland for the thirty-second international climate meeting in 40 years. As they dithered over whether they should “welcome” or “note” the 1.5°C pathways Continue Reading
Hubbert’s Peak by Kenneth Deffeyes
This is the first of three books that the late geologist Kenneth S. Deffeyes, who passed away a year ago this week, wrote about the coming global oil crisis. The Continue Reading
Peak Oil & Drastic Oil Shortages Imminent, Says IEA
While the IEA got a lot of coverage for its World Energy Outlook 2018 (WEO 18), there might be a little snippet that got way underappreciated. On page 159 of Continue Reading
Peak oil, 20 years later: Failed prediction or useful insight?
In March 1998, Scientific American published a paper titled “The End of Cheap Oil,” [ 1 ] signed by two petroleum geologists, Colin Campbell and Jean Laherrère. It was Continue Reading
Why US Oil Production Won’t Peak Anytime Soon
The US shale oil revolution continues to defy the skeptics. The U.S. shale oil revolution continues to defy the skeptics, and the country is now producing a record 11 million Continue Reading
So Much for King Hubbard’s “Peak Oil” Theory
When M. King Hubbard concluded in 1956 that the world would shortly run out of oil, his theory was adopted by environmentalists and government meddlers as the basis for interference Continue Reading
The Rapid Acceleration Towards Peak Oil Demand
The drumbeat towards peak oil demand is accelerating, but since much of the acceleration is happening outside of the United States, its cadence is muted. To be clear, the developed Continue Reading
Our Bonus Decade
“The sense of security more frequently springs from habit than from conviction, and for this reason it often subsists after such a change in the conditions as might have been Continue Reading
Peak Oil or Peak Demand?
Following the dawn of the oil industry in the 1800s, demand for oil steadily grew. Initially driven by demand for kerosene as an illuminant, the world’s thirst for oil accelerated Continue Reading
How to keep the spectre of peak oil supply at bay
The warning signs are there – the industry isn’t finding enough oil. Guyana is one of the very few giant oil discoveries made during the downturn. Fact is, we need Continue Reading
12 Reasons Why People Refuse To Address The Idea That We’re Headed For Near-Term Societal Collapse
General Ideas The starting point for a generative discussion of the deep adaptation agenda is a difficult one. Because to begin to rigorously and imaginatively discuss this topic first requires Continue Reading
Predictions Of Early ‘Peak Oil’ Demand Don’t Pass The Goldilocks Test
Adherents of the currently faddish demand side of “Peak Oil” theory (as opposed to the formerly faddish supply side, which was completely blown out of the water in recent years Continue Reading
World oil demand, refining growth to peak in 2035: Unipec
World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil Continue Reading
Now near 100 million bpd, when will oil demand peak?
Sometime in the next few weeks, global oil consumption will reach 100 million barrels per day (bpd) – more than twice what it was 50 years ago – and it Continue Reading