Twin Peaks: Whether It’s Supply or Demand, Oil Era Heads for Crunch Time

As it stands now, mobility curbs, which hollowed out both spending on upstream oil projects and oil end-use, may already be set to permanently rein in the growth of both supply and demand.

Noah Browning, Reuters

Energy transition and peak demand predictions have spooked investors in oil, putting the prospect of peak production sooner than anticipated accompanied by wild price spikes.

Key climate talks are set to begin at the end of this month in Glasgow, Scotland to tackle global warming under the 2015 Paris Agreement, with fossil fuel in policymakers’ crosshairs.

But as it stands now, mobility curbs which hollowed out both spending on upstream oil projects and oil end-use may already be set to permanently rein in the growth of both supply and demand.

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