The IEA Is Not Wrong About Oil Demand ...Middle East

The IEA's most recent report is grabbing plenty of headlines, with some accusing the organisation of “bending to political pressure” after it backtracked on its previous prediction that oil demand would peak by 2030. While the reason for this U-turn is indeed questionable, as the agency's estimates should always have been data-driven, it should be seen as a welcome shift. If we stop looking at energy consumption only via electricity and look instead at the whole picture, it becomes clear that demand, especially in the Global South,…

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