JOURNAL ARTICLE

Vitol Pushes Back Peak Oil Demand Forecast to Mid-2030s.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Hunter, Archie 3 of 3

Abstract

(Bloomberg) -- Vitol Group, the world's largest independent oil trader, said oil demand will take longer to peak than it previously estimated because of slow take-up of electric vehicles.Oil demand is now expected to reach a high at some point in the mid-2030s, Vitol said in a report on Monday. Its prior forecast was for that to happen at some point early next decade.In 2040, demand will be about 5 million barrels a day higher than current levels, it said.--With assistance from Mitchell Ferman.©2026 Bloomberg L.P.By Archie HunterReported by Author [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/02, pN.PAG
  • Document Type:Article
  • Subject Area:Science
  • Publication Date:2026
  • Accession Number:191456777
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