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Video: Has oil demand peaked? (Press tv Economic Divide program)

This program from Press tv Iran is interesting and useful in bringing us up to date. Iranians know a thing or two about oil production and the oil market. The issues of peak demand and peak production are very hard to estimate and no-one here pretends to have the answers, but a number of factors are canvassed, including US President Trump. As usual, however, in such programs, population growth and economic growth are skirted around. Similarly, increasing efficiency among OECD countries is taken as a given, and increasing consumption among 'developing' countries is also taken as a given. The elephant in the room is, of course, when does peak demand meet peak production.

The global demand for oil is predicted to be rising at least for the few coming decades.

The projection stems from several factors. One of the major reasons is the expectation of a drastic rise in the number of vehicles on the roads.

Economic Divide caught up with Dr. Ali Shams Ardekani to discuss the future demand of oil. He should know a thing or two about the oil industry. He serves as the President of the Iran Business For Future.

He is the current head of the energy commission for the Ministry of Oil, Planning and Development and the Ministry of Industry and Mining in Iran. People across the world are getting more and more mobile. They are expected to use more cars for transportation and also trucks for transiting consumer goods as fast as possible.