IEA and OPEC Clash Over Future Oil Demand and Supply

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.