The International Energy Agency said oil consumption will hit a peak in a few years, with shrinking gasoline use after 2026.
The kingdom is working to keep fossil fuels at the center of the world economy for decades to come by lobbying, funding research and using its diplomatic muscle to obstruct climate action.
Geopolitical tensions and a growing disparity between supply and demand have driven up prices. Here is what that means and what could happen next.
Last month, U.S. Energy Secretary Rick Perry signed an agreement with Saudi Arabian officials to research "carbon capture" technology for fossil fuels, the Department of Energy announced. Perry and Khalid Al Falih, the Saudi Minister of Energy, Industry, and Mineral Resources, signed a memorandum of understanding to "establish a framework for...