When is Asia's 'peak oil' moment? Report

Insight 19 November 2019

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Report summary

Asia has the strongest fundamentals amongst all emerging markets. Over coming decades, millions of people will move out of poverty and into the middle class. About 80% of the new middle-class population will come in Asia. To accommodate this, we will continue to see rapid urbanisation in Asia – expansion of existing cities and emergence of new cities. This is going to drive spending and consumption of resources in Asia for many years to come. Will energy transition lead to peak oil demand in Asia?