❮ Return to Blog

What Peak Oil Demand Means for Gas Prices

What Peak Oil Demand Means for Gas Prices

Estimated reading time: 3 minutes

In many ways, oil still makes the world go round, as fossil fuels remain the way much of the world and its manufacturing capacity is powered. Not only that, many of us drive cars with gas engines that need fueling. That’s to say, the oil price affects us all, whether we want it or not.

It’s relevant then, that the International Energy Agency (IEA) predicts that oil demand will reach its peak in 2030.

Demand Plateau

According to the IEA’s latest report, the world’s capacity for oil production will continue to grow, but demand won’t necessarily hold pace, thanks to clean energy technologies, electric vehicles, and fuel efficiency gains in fossil fuel-guzzling engines.

More oil supply and less demand could mean a decline in oil prices, and therefore what consumers pay at the pump. It could also spell trouble for oil producers though.

Fossil Future

Critics of the IEA’s projections see the agency underestimating demand in developing countries, many of which don’t see the same surge of clean technology demand as the U.S. 

S&P Global doesn’t expect peak demand to arrive until 2034, for example. And OPEC believes demand will continue to grow for much longer, through 2045 and possibly beyond.

SoFi Securities (Hong Kong) Limited and its affiliates (SoFi HK) may post or share information and materials from time to time. They should not be regarded as an offer, solicitation, invitation, investment advice, recommendation to buy, sell or otherwise deal with any investment instrument or product in any jurisdictions. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
SoFi HK does not make any warranties about the completeness, reliability and accuracy of this information and will not be liable for any losses and/or damages in connection with the use of this information.
The information and materials may contain hyperlinks to other websites, we are not responsible for the content of any linked sites. The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi HK. These links are provided for informational purposes and should not be viewed as an endorsement. The risk involved in using such hyperlinks shall be borne by the visitor and subject to any Terms of Use applicable to such access and use.
Any product, logos, brands, and other trademarks or images featured are the property of their respective trademark holders. These trademark holders are not affiliated with SoFi HK or its Affiliates. These trademark holders do not sponsor or endorse SoFi HK or any of its articles.
Without prior written approval of SoFi HK, the information/materials shall not be amended, duplicated, photocopied, transmitted, circulated, distributed or published in any manner, or be used for commercial or public purposes.


About SoFi Hong Kong

About SoFi Hong Kong

SoFi – Invest. Simple.


SoFi Hong Kong is the All-in-One Super App with stock trading, robo advisor and social features. Trade over 15,000 US and Hong Kong stocks in our SoFi App now.