InfoClima: Shell declared that the Peak Oil has been reached in 2019. What does this mean and what will be the impact of it in the near future?

 

On February 11, Shell- the world’s top 3 oil company – announced that the company will begin reducing extraction and production by 2% next year, noting that they had reached the Peak Oil stage in 2019. The concept of Peak Oil has existed for decades and it mainly represent the peak of global oil extraction followed by an irreversible decline.

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