Oil peak won't halt investments

The article confirms that oil investment will not end with its peak but will shift toward developing new resources to compensate for the natural decline in production. It is expected that the sector will need to develop more than 560 billion barrels of resources between 2026 and 2050, despite a 57% reduction in oil intensity due to the shift to electricity, energy efficiency, and technology. Global oil demand is projected to peak at 107.5 million barrels per day in 2030 before decreasing to around 88 million barrels in 2050, with significant variation between high and low demand scenarios. These projections are accompanied by a decline in traditional car usage in favor of electric vehicles and an increased demand for oil in the aviation and petrochemical sectors, even though production will decline before demand, reaching a peak of 112 million barrels per day in 2027. Despite the decreasing demand, billions of barrels will need to be developed to ensure sustainable production, with annual investments approaching $450-500 billion after 2030. Additionally, disruptions in the Middle East and Russia temporarily reduce refinery operations and boost refining margins, with oil prices expected to fall to $50-60 per barrel once the flow of the Strait of Hormuz is fully restored.

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