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Commodities

Crude oil demand may peak before 2030: commodities experts

Shift toward electric vehicles seen altering global energy landscape

Energy executives and other figures spoke at the Financial Times's first commodities summit in Tokyo on Dec. 5. (Photo by Ken Kobayashi)
TAKESHI KUMON, Nikkei staff writer | Japan

TOKYO -- The rapid spread of electric vehicles may cause demand for crude oil to start declining sooner than expected and possibly peak as early as 2025, experts said Tuesday at a commodities conference.

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