Renewable energy can have a complex relationship with oil demand, including increasing oil prices, making renewable sources more competitive, and providing an opportunity to replace fossil fuels. more sustainable energy technologies are required to replace conventional electricity generation resources such as fossil fuel, Renewables can effectively replace fossil fuels, creating crucial environmental, social and economic benefits. Global dependence on oil, natural gas and coal–and the damage this dependence inflicts–is well documented. Renewable energy, on the other hand, typically emits less CO2 than fossil fuels. An increasing number of oil and gas companies are part of the growth in the renewable energy sector and have been increasingly using, investing in and producing energy through renewable technologies in particular wind, solar power and biofuel.

Using renewable energy typically means using fewer fossil fuels, including oil. Renewable energy sources like solar, wind, hydro, and geothermal provide alternatives to fossil fuels, including oil. By generating electricity and powering various systems through renewable sources, the demand for fossil fuels, particularly oil, decreases. This shift helps reduce greenhouse gas emissions and dependence on finite resources.

One might want to consider Jevon's paradox in any discussion like this:

https://en.wikipedia.org/wiki/Jevons_paradox#:~:text=In%20economics%2C%20the%20Jevons%20paradox,use%20is%20increased%2C%20rather%20than