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Iran Conflict May Speed Up Energy Transition

TotalEnergies projects global oil demand to peak between 2035 and 2040. The company notes that the Iran conflict could accelerate the transition to low-carbon technology.

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Fuel pump nozzles for gasoline at a TotalEnergies gas station in Paris, France, March 25, 2026. REUTERS/Benoit Tessier

TOTALENERGIES SE expects global oil demand to peak between 2035 and 2040, five years earlier than its previous projection.