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Energy industry website OilPrice.com reported that Simon Henry, one of the world's largest oil companies, said in a conference call on Tuesday: "We have always believed that demand will peak before supply. ~10 years, the specific time is mainly determined by the development of energy use efficiency and alternative energy."

Henry also pointed out that even if oil demand declines, Shell will provide its replacement, so Shell must become a giant in the energy industry around 2050. Previously, Shell acquired British Gas Group for £47 billion in cash plus stock (approximately $70 billion).

Shell’s pessimistic attitude is exactly the opposite of that of other oil suppliers.

ExxonMobil, the world's largest publicly traded oil company, believes that global demand for oil and other liquid fuels is expected to increase by about 20% between 2014 and 2040. The Saudi government has previously pointed out that oil demand will rise further due to strong consumption in emerging markets.

The World Energy Council believes that if technologies such as renewable energy and electric vehicles continue to grow rapidly, oil demand will peak at 2030.

This week, both US oil and oil oil recorded a decline for the second consecutive week. Among them, WTI's oil price in December fell by 6.72 US dollars in the two weeks, a drop of 13.32%. Brent's January oil price fell by 7.13 US dollars in two weeks, a drop of 13.53.

Source: Wall Street