The sun may be setting on the traditional petrol station
You will never guess who just declared peak gasoline…
The IEA has called the top of global demand, although it predicts demand for oil will continue to rise
The IEA surprised analysts and rippled oil markets last week when it declared global gasoline demand has now peaked. The call is uncharacteristically bold for the Paris-based agency, which has historically waited until trends are well established before raising the flag on such forecasts. While short-term reactions in the price of oil are often ripe for over-interpretation, Brent fell $4/bl on the week from $68 to $64, and actually touched $62 the day after IEA released its Oil 2021 report. If its outlook is correct, the downstream implications are significant in everything from the business of petrol filling stations to the refining industry. OECD gasoline demand has been stagnant for
Also in this section
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
17 October 2025
The business case for CCS is strengthening as costs decline, but deployment must accelerate to align with credible net-zero scenarios
17 October 2025
The black-tie gala recognised the energy industry’s leading innovations and thought leaders from across the value chain
15 October 2025
Company warns against potential withdrawal of federal funding for emerging technology as it eyes key role for CO₂ in boosting both conventional and shale oil recovery in US
