Peak in oil demand ‘in sight’ before end of decade: IEA

The IEA said a peak in oil demand is ‘in sight’ by the end of the decade.

Global oil demand could peak before the end of this decade as the energy crisis has accelerated the transition to cleaner technologies, the International Energy Agency said Wednesday.

The Paris-based agency, which advises developed nations, forecast in its Oil 2023 medium-term market report that annual demand growth would slow sharply over the next five years.
“The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, …

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