World Oil Demand to Keep Growing This Decade Despite 2027 China Peak, IEA Says

Global oil demand will keep growing until around the end of this decade despite peaking in top importer China in 2027, as cheaper gasoline and slower electric vehicle adoption in the United States support consumption, the International Energy Agency said on Tuesday.

The IEA, which advises industrialised countries, did not change its prediction that demand will peak by 2029, but sees China demand peaking earlier due to growth in electric vehicles.

Its view that global demand will peak in a few years sharply contrasts with that of producer group the Organization of the Petroleum Exporting Countries (OPEC) which says consumption will keep growing and has not forecast a peak...

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