Wood Mackenzie: Global Crude Oil Demand To Peak In 2032

Contributing sentiments towards policy:

61% : Displacing fossil fuels with renewable power is a pillar of the energy transition that seeks to meet the Paris Agreement target to limit global temperature rises to 1.5 C (2.7 F) above preindustrial levels.
58% : The report comes ahead of the COP30 meeting in Brazil this month where countries are due to present updated national climate commitments and assess progress on renewable energy targets.
50% : Rising dependence on fossil fuels due to increased power demand from artificial intelligence and to geopolitical tensions have led to 2050 net zero goals becoming unattainable, Wood Mackenzie said in its Energy Transition Outlook report.
44% : "Fossil fuels are no longer uncontested; they are being squeezed into narrower roles, but their decline is proving more gradual than expected," the Wood Mackenzie report said.

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