Global Markets: Oil industry shrugs off peak oil demand, but climate concerns rising

Top oil industry officials dismissed concerns about a rapidly approaching peak in oil demand at the CERAWeek Conference, but what was notable was how much climate change came up at the event.

In particular, Royal Dutch Shell’s (NYSE: RDS.A) CEO Ben van Beurden warned about the risks to the oil industry form climate change. “There may not be total unity behind the Paris Agreement any longer, but there is no other issue with the potential to disrupt our industry on such a deep and fundamental level,” van Beurden said.