Last year, Bloomberg caused quite a stir in energy circles when it predicted that global demand for road fuel will peak in 2027. According to Bloomberg, demand for road fuel will hit an all-time high of 49 million barrels per day just three years from now before entering terminal decline. Bloomberg says that rapid adoption of electric vehicles, shared mobility and ever-improving fuel efficiency are the biggest bear catalysts for oil, with EVs expected to displace a staggering 20 million barrels per day in oil demand by 2040, or 10x the current estimate.
Bloomberg also reported that…
