Tag #World Energy Outlook

What is the primary driver of the IEA's prediction of peak oil demand this decade, and what is the key discrepancy between their short-term and long-term forecasts?

The International Energy Agency (IEA) predicts that oil demand will peak this decade, driven primarily by the increasing market share of electric vehicles (EVs). However, their short-term forecast shows a 3 million barrels per day (mb/d) increase in oil demand by 2030, contradicting the long-term peak prediction.