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Oil Demand To Peak in 2030

Consulting firm McKinsey have revised global fuel forecasts to suggest that global oil demand could peak by 2030.

Demand for oil is set to grow at a slower rate than first predicted due to energy efficiency improving significantly alongside new renewable energy sources.

The firm also stated that electricity demand is set to outstrip other fuel sources by more than two to one due to countries such as China and India using electric to power construction, it has been stated that solar and wind are set to fill the fuel capacity market.