IEA Doubles Down On Peak Oil Demand Forecast ...Middle East

A peak in global oil demand is still on the horizon, the International Energy Agency (IEA) said on Tuesday, doubling down on its forecast that demand will plateau by the end of the decade.  China’s oil demand, which increased by a cumulative 6 million barrels per day (bpd) in the decade to 2024, is set to peak earlier than previously expected, the agency said in its annual Oil 2025 report for the medium term.  While China – the world’s top crude oil importer – accounted for 60% of the global increase in oil consumption…

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