FORNEBU (NORWAY): World demand for oil will peak around 2030 and will not exceed 100 million barrels per day by 2040, Norway's Statoil said in its annual market outlook on Friday.
"Fossil fuels are here to stay, but gas is growing the most. For oil demand, we see a peak around 2030," Eirik Waerness, Statoil's chief economist, told reporters.
Growth in the US domestic oil output has been the biggest change affecting the oil market, he said, which would compensate for an expected fall in output countries that do not belong to the Organization of the Petroleum Exporting Countries ( OPEC).
Statoil is the latest energy company to provide its view on future energy markets after BP's report released on Wednesday.
Statoil predicted global primary energy demand would grow by 40 per cent by 2040, mainly non-OECD countriesenergy demand is seen rising by more than 60 per cent by 2040.
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