A new report from the consulting firm Wood Mackenzie predicts that increasing vehicle efficiency and the rise of electric cars will lead global gasoline demand to peak by 2030.

Expand chart

Data: Wood Mackenzie Macro Oils Service; Chart: Chris Canipe / Axios

Big picture: "Although oil demand grows to 2035 on aggregate, it is minimal compared with what we have seen over the past twenty years. The prospect of peak oil demand is very real," the report states.

It's a double whammy for gasoline: in the next decade it's a fuel efficiency story. Post-2025, it's an EV story, as the ramp up in electric vehicle penetration displaces significant volumes of gasoline demand," they note.

However, overall global crude oil demand growth — driven by petrochemical needs — is not expected to peak until 2035 at the earliest, but will have slowed way down compared to prior decades.

"The oil industry is right to be concerned and should start to plan for the future," it says.

Go deeper

Updated 7 mins ago - World

Scoop: Decisive meeting could lead to Israeli-Sudanese normalization

Lt. Gen. Abdel Fattah al-Burhan, Sudan's head of the Sovereign Council, meets with Bahraini aid officials in Khartoum, Sept. 15. Photo: Mazen Mahdi/AFP via Getty Images

U.S., Emirati and Sudanese officials will hold a decisive meeting in Abu Dhabi on Monday on a possible normalization agreement between Sudan and Israel, Sudanese sources told me.

Why it matters: If the U.S. and the United Arab Emirates accommodate Sudan’s requests for economic aid, an announcement on a normalization agreement with Israel similar to the ones struck with the UAE and Bahrain could be made within days, sources briefed on the process tell me.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:45 p.m. ET: 30,838,610 — Total deaths: 958,090— Total recoveries: 21,088,552Map.
  2. U.S.: Total confirmed cases as of 12:45 p.m. ET: 6,777,026 — Total deaths: 199,352 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" Trump's health secretary asserts control over all new rules.
  4. Education: What we overlooked in the switch to remote learning
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.
Updated 2 hours ago - Health

7 states set single-day coronavirus case records last week

Data: Compiled by Axios; Map: Danielle Alberti/Axios

Seven states set new highs last week for coronavirus infections recorded in a single day, according to the COVID Tracking Project and state health departments. Wisconsin and Nebraska surpassed records set the previous week.

Why it matters: Problem spots are sticking in the Midwest, although the U.S. is moving in the right direction overall after massive infection spikes this summer.