International Energy Agency Forecasts Peak in Oil Demand by 2029
Wednesday, 12 June 2024, 11:29
IEA Reports on Oil Demand Projection
In its annual industry report, the International Energy Agency (IEA) highlights a pivotal shift in the global oil market.
Peak Demand Expected Soon
The IEA forecasts a peak in oil demand by 2029, attributing this trend to soaring production levels.
Impact: The growing production numbers, particularly driven by the US, are integral to this forecasted demand peak, signifying a potentially transformative shift in the oil industry.
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