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Boom in electric vehicles will partly spur decline, says International Energy Agency Demand for oil to ‘shrivel’ by 2028, says global energy authority Skip to main content
The annual World Energy Outlook (WEO) is the International Energy Agency's (IEA) flagship publication on global energy projections and analysis. [1] It contains medium to long-term energy market projections, extensive statistics, analysis and advice for both governments and the energy business regarding energy security, environmental protection and economic development.
In 1956, Hubbert confined his peak oil prediction to that crude oil "producible by methods now in use." [13] By 1962, however, his analyses included future improvements in exploration and production. [14] All of Hubbert's analyses of peak oil specifically excluded oil manufactured from oil shale or mined from oil sands. A 2013 study predicting ...
The International Energy Agency says the share of coal, oil, and natural gas in global energy supply, stuck for decades around 80%, will start to edge downward and reach 73% by 2030.
In 2023, the IEA predicted that demand for fossil fuels such as oil, natural gas and coal would reach an all-time high by 2030. [91] OPEC rejected the IEA's forecast, saying "what makes such predictions so dangerous, is that they are often accompanied by calls to stop investing in new oil and gas projects."
Global demand for oil, natural gas and coal is likely to peak by 2030 — an “encouraging” development but “not nearly enough” to limit the rise in global temperatures to 1.5 degrees ...
Greenhouse gas emissions and the global demand for fossil fuels could peak this decade, according to an updated analysis from the International Energy Agency (IEA) that emphasized more must be ...
In 2005, U.S. crude oil imports peaked at twice as high as domestic production; since then, U.S. oil production has increased, and imports have fallen 41%. [11] The conventional peak of oil extraction in 1970 was predicted by one of the two projections proposed by Hubbert in 1956.