IEA Sounds Alarm on Oil Industry: Demand Peak Expected by 2029

Wednesday, 12 June 2024, 07:41
The International Energy Agency (IEA) predicts a significant shift in the global oil market as demand is projected to reach its peak by 2029. This forecast is accompanied by warnings of a looming supply glut, signaling potential challenges for the energy sector. With the industry at a critical juncture, stakeholders are urged to prepare for substantial changes in the coming years, with implications for both producers and consumers.
https://store.livarava.com/1720f073-28ab-11ef-ab75-0d95d4a28fb2.jpg
IEA Sounds Alarm on Oil Industry: Demand Peak Expected by 2029

IEA Warning on Oil Industry:

Key Points:

  • Global Implications: IEA forecasts peak oil demand by 2029.
  • Supply Concerns: Major supply glut anticipated in the near future.

According to the International Energy Agency (IEA), the global oil market is set to undergo a significant transformation with demand expected to peak by 2029. This projection comes alongside warnings of a looming supply glut, raising challenges for industry players. Stakeholders must brace for substantial changes ahead, influencing both production and consumption patterns.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe