IEA says peak oil demand is still far away

The International Energy Agency forecasts that oil demand will continue to grow during the next five years – demand that will first and foremost be supplied from US shale production, the agency reports.

Photo: /ritzau/AP/LM Otero

There currently no signs of oil demand declining in the near future. Rather, demand will grow by an average of 1.2 barrels per day during the next five years, projects the International Energy Agency (IEA) in a new report.

"The IEA continues to see no peak in oil demand," the agency writes.

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