Major changes are expected in the oil and gas industry. The International Energy Agency forecasts that toward 2028, global oil consumption will ‘shrivel’ to almost nothing.

“The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance Oil producers need to pay careful attention to the gathering pace of change and calibrate their investment decisions to ensure an orderly transition,” informs Fatih Birol, IEA Executive Director (International Energy Agency).

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