World oil demand to peak around 95-110 mbpd

4. February. 2010
Reuters

World oil demand will peak sometime after 2020 at a maximum of around 110 million barrels per day (bpd), BP Chief Executive Tony Hayward said on Thursday.

"World demand will peak before its supply peaks because there is plenty of oil in the world, there really is," he said in an interview on BBC Radio 4.

"There are some challenges getting it out in some places, mainly to do with geopolitics, but there is plenty of oil in the world." Asked when peak oil demand would come, Hayward said: "It will probably occur beyond 2020 -- who knows what the number will be, but it will be somewhere between sort of 95 and... 110 million bpd, probably, versus the 85 we consume today."