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Goldman Sachs predict peak vehicle oil based fuel use in combustion engines around the early 2030s. Flowing that the investment bank forecaset a very slow decline in use. A decade later in the early 2040s demand will be around 2023 levels. By then there will be considerably more vehicles worldwide, especially in developing countries. Many will be fully electric, but in developing nations the uptake of electric is expected to be far less. Demand from these countries will maintain vehicle oil based fuel use levels in to the second half of the century.

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