IEA said global demand growth for oil is likely to drop off sharply over the next 5 years

  • IEA on oil demand

The International Energy Agency issued its monthly report on Wednesday. IEA executive director Fatih Birol comments in the report said he expects oil demand growth will "slow almost to a halt" in the years ahead, citing the pivot away from fossil fuels accelerating.

  • "The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance"

I wonder if his view is just following the oil price lower? Where were such comments when it was surging?

oil iea outlook forecast 15 June 2023

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