Rystad Energy follows demand for fossil fuels closely, with bottom-up supply and demand for oil and natural gas, coupled with transition scenarios for displacement from electric vehicles, renewables and more.
Global coal demand peaked in 2012, but did experience a short-lived comeback in 2018. Peak oil demand was slated for the late 2020s before the Covid-19 pandemic decimated global energy markets in early 2020, which may have effectively propelled this peak forward to 2019. Natural gas demand will likely take a smaller hit than oil during 2020 and is expected to come back and continue its trajectory to become the dominant fossil fuel by around 2030, before inevitably following its fossil cousins into decline some years later.
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