IEA Predicts Escalating Oil Demand Beyond Previous Peak Consumption

The latest report from the International Energy Association found a rebound in oil demand could lead global oil consumption above 100m barrels of oil a day for the first time by 2023, exceeding pre-COVID-19 levels unless concrete government action and legislation leads to a much stronger move towards clean energy.


This report follows IEA's warning that the world’s daily oil demand may escalate faster than any time in history in 2021 unless green policies are adopted to dampen a record-breaking oil demand rebound. Green economy recovery efforts have failed to make the necessary impacts on emission reductions required, with predictions of oil demand climbing by 5.5m barrels of oil per day - one of the fastest annual climbs on record - to an average of 96.6m barrels a day.



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