TotalEnergies sees global oil consumption rising for another ten years

TotalEnergies forecasts that global oil consumption will increase until 2035, despite efforts to accelerate the energy transition. Inertia in the power generation sector, linked to the lifespan of power generation assets, is holding back the energy transition. Under these conditions, peak oil consumption would not occur before 2035, and would be followed by a very slow decline in oil consumption. Global warming would reach 2.6 to 2.7 degrees by 2100.