"The International Energy Agency's latest outlook signals that oil demand could keep growing through to the middle of the century," reports CNBC, "reflecting a sharp tonal shift from the world's energy watchdog and raising further questions about the future of fossil fuels."
In its flagship World Energy Outlook, the Paris-based agency on Wednesday laid out a scenario in which demand for oil climbs to 113 million barrels per day by 2050, up 13% from 2024 levels. The IEA had previously estimated a peak in global fossil fuel demand before the end of this decade and said that, in order to reach net-zero emissions by 2050, there should be no new investments in coal, oil and gas projects... The IEA's end-of-decade peak oil forecast kick-started a long-running war of words with OPEC, an influential group of oil exporting countries, which accused the IEA of fearmongering and risking the destabilization of the global economy. ...
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