IEA: Oil Demand to Peak in 2050, Not 2030

The International Energy Agency (IEA) has revised its prediction for global oil demand peak, now expecting it to occur by 2050 instead of 2030. This shift is due to increased demand from industries, homes, and the tech sector, particularly data centers for AI. The IEA now forecasts oil demand to reach 113 million barrels per day by 2050, a 13% increase from current consumption. This change comes as governments prioritize energy security over rapid climate action. The IEAs new prediction suggests we may miss the Paris Agreements goal of limiting global warming to 1.5°C.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.