Global oil demand to reach its peak this decade, IEA says
Global demand for oil will reach its peak this decade, the International Energy Agency predicted for the first time, amid growing popularity of electric cars and the cooling of China’s economy.
By Bloomberg News
The predicted peak, which the agency also anticipates for coal and natural gas, doesn’t mean a rapid plunge in fossil fuel consumption is imminent. It will probably be followed by “an undulating plateau lasting for many years” with emissions remaining too high to limit global warming to 1.5C, the IEA said.
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