Overview

• 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.