Global oil demand may have passed peak, says BP energy report

Oil will be replaced by clean electricity, BP predicts, as demand may never recover from Covid-19 pandemic

BP has called time on the world’s rising demand for fossil fuels after finding that demand for oil may have already reached its peak and faces an unprecedented decades-long decline.

Demand for oil may never fully recover from the impact of the coronavirus pandemic, according to the oil firm, and may begin falling in absolute terms for the first time in modern history.

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