Energy Trader Vitol Delays Peak Oil Demand Forecast to Mid-2030s

Dow Jones

Feb 09

By Giulia Petroni

Energy trader Vitol pushed back its forecast for peak global oil demand, pointing to a slower adoption of electric vehicles in the U.S. and certain parts of Asia.

In a report Monday, the company said demand is now expected to peak at around 112 million barrels a day in the mid-2030s, later than its previous projection of the early 2030s. By 2040, global oil consumption is expected to be roughly 5 million barrels a day higher than today.

"Demand is now expected to be higher than previously anticipated by the end of 2040," Vitol said. However, "the profile of the barrel is expected to change," with demand growth driven by petroleum products used in the production of plastics and aviation.

Vitol, which handles roughly 7% of the world's oil supply every day, said slower EV adoption in key markets underpins the revised outlook. The firm also noted that EVs, primarily passenger cars, remain the main decarbonization tool to moderate oil demand.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

February 09, 2026 07:25 ET (12:25 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

LOGIN / SIGN UP

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2610630548"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2610630548\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2610630548?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-02-09 20:25","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2610630548","market":"nz","top_or_hot":-1,"title":"Energy Trader Vitol Delays Peak Oil Demand Forecast to Mid-2030s","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Giulia Petroni \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Energy trader Vitol pushed back its forecast for peak global oil demand, pointing to a slower adoption of electric vehicles in the U.S. and certain parts of Asia. \n</p>\n<p>\n  In a report Monday, the company said demand is now expected to peak at around 112 million barrels a day in the mid-2030s, later than its previous projection of the early 2030s. By 2040, global oil consumption is expected to be roughly 5 million barrels a day higher than today. \n</p>\n<p>\n  \"Demand is now expected to be higher than previously anticipated by the end of 2040,\" Vitol said. However, \"the profile of the barrel is expected to change,\" with demand growth driven by petroleum products used in the production of plastics and aviation. \n</p>\n<p>\n  Vitol, which handles roughly 7% of the world's oil supply every day, said slower EV adoption in key markets underpins the revised outlook. The firm also noted that EVs, primarily passenger cars, remain the main decarbonization tool to moderate oil demand. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Giulia Petroni at giulia.petroni@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 09, 2026 07:25 ET (12:25 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Energy Trader Vitol Delays Peak Oil Demand Forecast to Mid-2030s</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEnergy Trader Vitol Delays Peak Oil Demand Forecast to Mid-2030s\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-02-09 20:25</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Giulia Petroni \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Energy trader Vitol pushed back its forecast for peak global oil demand, pointing to a slower adoption of electric vehicles in the U.S. and certain parts of Asia. \n</p>\n<p>\n  In a report Monday, the company said demand is now expected to peak at around 112 million barrels a day in the mid-2030s, later than its previous projection of the early 2030s. By 2040, global oil consumption is expected to be roughly 5 million barrels a day higher than today. \n</p>\n<p>\n  \"Demand is now expected to be higher than previously anticipated by the end of 2040,\" Vitol said. However, \"the profile of the barrel is expected to change,\" with demand growth driven by petroleum products used in the production of plastics and aviation. \n</p>\n<p>\n  Vitol, which handles roughly 7% of the world's oil supply every day, said slower EV adoption in key markets underpins the revised outlook. The firm also noted that EVs, primarily passenger cars, remain the main decarbonization tool to moderate oil demand. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Giulia Petroni at giulia.petroni@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 09, 2026 07:25 ET (12:25 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SCO","symbol_name":"二倍做空彭博原油指数ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2610630548","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2610630548","pubTimestamp":1770639900,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Energy trader Vitol pushed back its forecast for peak global oil demand, pointing to a slower adoption of electric vehicles in the U.S. and certain parts of Asia.In a report Monday, the company said demand is now expected to peak at around 112 million barrels a day in the mid-2030s, later than its previous projection of the early 2030s. By 2040, global oil consumption is expected to be roughly 5 million barrels a day higher than today.\"Demand is now expected to be higher than previously anticipated by the end of 2040,\" Vitol said. However, \"the profile of the barrel is expected to change,\" with demand growth driven by petroleum products used in the production of plastics and aviation.Vitol, which handles roughly 7% of the world's oil supply every day, said slower EV adoption in key markets underpins the revised outlook. The firm also noted that EVs, primarily passenger cars, remain the main decarbonization tool to moderate oil demand.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SCO":"二倍做空彭博原油指数ETF","DUG":"二倍做空石油与天然气ETF(ProShares)","SKIS":"Peak Resorts, Inc.","XLE":"SPDR能源指数ETF","BK4588":"碎股","BK4585":"ETF&股票定投概念","UCO":"二倍做多彭博原油ETF","USO":"美国原油ETF","BK4570":"地缘局势概念股"},"translate_title":"能源交易商Vitol将石油需求峰值预测推迟至2030年代中期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SCO":0.6,"XLE":0.64,"DUG":0.64,"SKIS":1.5,"USO":0.64,"UCO":0.6},"content_text":"By Giulia Petroni \n\n\n \n\n\n  Energy trader Vitol pushed back its forecast for peak global oil demand, pointing to a slower adoption of electric vehicles in the U.S. and certain parts of Asia. \n\n\n  In a report Monday, the company said demand is now expected to peak at around 112 million barrels a day in the mid-2030s, later than its previous projection of the early 2030s. By 2040, global oil consumption is expected to be roughly 5 million barrels a day higher than today. \n\n\n  \"Demand is now expected to be higher than previously anticipated by the end of 2040,\" Vitol said. However, \"the profile of the barrel is expected to change,\" with demand growth driven by petroleum products used in the production of plastics and aviation. \n\n\n  Vitol, which handles roughly 7% of the world's oil supply every day, said slower EV adoption in key markets underpins the revised outlook. The firm also noted that EVs, primarily passenger cars, remain the main decarbonization tool to moderate oil demand. \n\n\n \n\n\n  Write to Giulia Petroni at giulia.petroni@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 09, 2026 07:25 ET (12:25 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}