According to Shell, fuel demand will grow continuously over the next 20 years. In the context of climate change policies, international renewable energy is increasing. However, in the short-term, heavy industries can not be fully supplied with renewable energy and cost is high, “said Shell’s Vice-President. According to the Bank of America’s recent research, the demand for oil is expected to peak in mid-2030s and decline after. According to the International Energy Agency, the demand for oil in the car market will peak in 2020.

Source: BloombergTv.mn