World oil demand could peak in 2020, study says

Ethanol Producer Magazine
By Kris Bevill November 11, 2011

A multi-client funded study recently conducted by Ricardo Strategic Consulting has found that global energy security policies and fuel efficiency technologies are likely to contribute to a peak in world oil demand at about 4 percent above current levels in 2020. By 2035, world oil demand is expected to decline to a level significantly below 2010’s demand of about 87 million barrels per day.

“The drivers working against oil demand growth are increasing in number and intensity, with the world’s consuming nations increasingly focused on their need to reduce their dependency on oil, supported by an ever stronger legislative framework,” Peter Hughes, managing director of Ricardo’s energy practice, stated. “Over the past few years a near ‘perfect storm’ for oil demand has been forming and gathering strength, created by a preoccupation in many quarters about the availability of future supplies.”

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