Fuel / NEWS UPDATE
TotalEnergies Now Sees Oil Demand Peaking Between 2035 and 2040
Published · 1 min read
TotalEnergies has revised its forecast, now predicting that global oil demand will peak between 2035 and 2040, a shift from its previous estimate of 2040.
The company attributes this change to the Iran war, which could accelerate the energy transition, and the rapid growth in electric vehicle sales. In November 2025, TotalEnergies had forecasted oil demand to rise to nearly 108 million barrels per day by 2040. The firm also noted a significant increase in EV sales, particularly in Asia, Latin America, and Europe, and highlighted higher biofuel blending mandates.