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Gazprom Neft does not expect decline in global oil demand after 2030

Executive Director of the International Energy Agency (IEA) Fatih Birol said earlier that peak demand for fossil fuels would be reached by the end of this decade

TYUMEN, September 20. /TASS/. Despite expert predictions of a decline in consumption, global demand for oil continues to rise and will continue to grow until 2030, Gazprom Neft CEO Alexander Dyukov told reporters.

Executive Director of the International Energy Agency (IEA) Fatih Birol said earlier that peak demand for fossil fuels would be reached by the end of this decade.

"We've previously heard a number of such forecasts. Someone predicted that peak demand will be reached by 2020, after which oil consumption would begin to fall. Experts also predicted that following COVID, oil demand would not return to pre-pandemic levels. We don't see this," Dyukov said. "Oil demand continues to rise. And we proceed on the assumption that global oil consumption would continue to rise until 2030," he added.

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