5 articles | last updated: Jun 13 17:02:00
The International Energy Agency predicts a surplus by 2030, while OPEC calls for continued investment to avoid shortages.
- The IEA forecasts oil demand will peak by 2029 and supply will exceed demand by 8 million barrels per day by 2030.
- OPEC dismisses these predictions, emphasizing the need for ongoing fossil fuel investments to prevent future energy shortfalls.
- Asian markets, particularly China and India, are expected to drive demand growth, despite a global shift towards cleaner energy.
- The projected surplus could challenge OPEC's market strategies and impact global oil prices.
- Experts highlight potential economic and policy uncertainties affecting the energy transition and future oil demand.
People, Places and Things In This Story
- International Energy Agency Intergovernmental
- OPEC Company
- Asia Continent
- China Country in East Asia
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