Peak consumption is not expected to occur before 2040, according to TotalEnergies.

TotalEnergies forecasts a slowdown in the energy transition and an increase in oil demand until 2040. Oil demand is expected to reach 108 million barrels per day by that date (compared to 103 million barrels in 2025). Oil demand would then decline to 98 million barrels per day in 2050. The group notes stagnation in the penetration of certain low-carbon electrical uses (electric vehicles and electrification of industrial uses).