Neither "Peak Oil" Nor "Peak Oil Demand" -- John Kemp -- Reuters -- June 22, 2016

From Rigzone:

"Peak oil demand" has become a fashionable concept among climate campaigners but the evidence suggests oil consumption is growing at the fastest rate for a decade and shows no sign of letting up.

Global oil consumption increased by nearly 1.9 million barrels per day (bpd) in 2015, the largest annual increase since 2004, apart from the post-crisis bounce recorded in 2010.

Most forecasters predict consumption will grow by another 1.5 million bpd in 2016 and a similar amount in 2017, which would make it the strongest sustained period of growth since 2004-2006.

Oil consumption in the advanced industrial economies that are members of the Organisation for Economic Cooperation and Development (OECD) peaked at 50 million bpd as far back as 2005.

Between 2006 and 2014, OECD consumption declined in seven out of nine years.

By 2014, OECD oil consumption had fallen by around 5 million bpd, or 10 percent ("BP Statistical Review of World Energy," 2016).

In the OECD countries, consumption does indeed seem to have "peaked" thanks to a combination of high and rising oil prices, energy efficiency mandates and prolonged economic weakness.