Global oil demand is poised for growth over the next two decades, with North America, China, and India expected to drive the demand.
Economists have been attempting to forecast the point of peak oil —the year when oil demand reaches its maximum level—since the 1970s. Despite increasing warnings regarding climate change, global demand has continued to rise over the last few years and could continue. In this graphic, Visual Capitalist partnered with Range ETFs to explore the global oil demand and determine which region will demand the most in 2045.
Additionally, the demand for jet fuel could grow by as much as 60% between 2022 and 2045, as currently, there is no carbon-neutral alternative to kerosene. Who Will Be Using This Oil The forecasts also describe how much of this demand could flow to each region by 2045. Here is how it breaks down Despite significant investments in clean energy, large economies like those in North America, China, and India are forecast to have the most demand in 2045.
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