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The Ramifications of Global Oil Demand Hitting a Plateau

Nov.14 -- Global oil demand will hit a plateau around 2030 as the use of more efficient cars and electric vehicles ends an expansion that dominated the past century, the International Energy Agency predicts. The prospect of “peak demand” has spread in the oil industry in recent years as countries seek to avert catastrophic climate change by diversifying from fossil fuels, and as renewable-energy sources get cheaper. Leo Mariani, equity research analyst at Keybanc Capital Markets, talks with Bloomberg's Alix Steel about the IEA report, Saudi Aramco's valuation and global disparities in production.