The International Energy Agency has predicted that global oil demand will peak before the end of the current decade as the energy transition gathers momentum.
Global oil demand could peak before the end of this decade as the energy crisis has accelerated the transition to cleaner technologies, the International
Global oil demand is projected to peak in the next few years even as some major energy companies announce plans to reinvigorate their fossil fuel businesses.
Global oil demand is slated to peak before the end of the decade, according to a new report from the International Energy Agency, a milestone it attributes to investments in clean energy sources, particularly for electric vehicles, and a drop in oil demand growth from China.
The International Energy Agency predicted Wednesday that demand for oil will fall to 400,000 barrels a day in 2028—a drastic fall from 2.4 million barrels a day currently.
Global oil demand growth will taper off over the next few years as high prices and Russia’s invasion of Ukraine speed up the transition away from fossil fuels, the International Energy Agency said.
The International Energy Agency predicts global oil demand growth will fall to half the rate seen in the past two years by 2024 as the US looks for two-thirds of cars to be electric by 2032.
Shifts in renewable and alternative forms of energy suggest global crude oil demand will peak by the end of the decade, the Paris-based International Energy Agency said Wednesday.
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Global Oil Demand to Peak Before the End of the Decade as Energy Transition Gathers Pace, IEA Says | Since Then
