Global oil demand has likely peaked due to ongoing geopolitical disruptions, forcing the energy sector to adapt to a future with less oil consumption. This shift from a supply shock to a demand-driven narrative challenges previous assumptions of continuous growth.

<p>Amid the disruptions caused by the US/Israeli-Iran war, countries have begun adapting to life with less oil. What started as a supply shock has become a demand story, forcing the energy sector to reconsider one of its most important assumptions: continued growth of global oil demand.</p>