Investments in clean energy are growing faster than those in fossil fuels.
(Photo: Reuters)
Frankfurt The International Energy Agency (IEA) expects global oil demand to grow more slowly than before. In its medium-term market report “Oil 2023” published today, it assumes that annual demand growth will shrink from 2.4 million barrels per day this year to just 400,000 barrels per day in 2028.
Nevertheless, the bottom line is that global oil demand will increase by 6 percent to 105.7 million barrels per day by 2028. This growth will be driven by Asian countries such as India, while demand from the OECD countries will even decline from 2024 onwards.
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