Logo of the International Energy Agency (IEA)
The International Energy Agency (IEA) expects global oil and gas demand to continue growing through 2050, warning that the world is likely to fall short of its climate targets, according to its annual World Energy Outlook report released on Wednesday. 
The agency said that under current policies, which reflect government actions rather than climate ambitions, oil demand could reach 113 million barrels per day by mid-century, up 13% from 2024 levels.
It also projected global energy demand to rise by 90 exajoules by 2035, an increase of 15% from current levels.
The IEA stressed that its scenarios explore a range of potential outcomes under different assumptions and are not forecasts. Under a scenario that considers policies proposed but not yet implemented, oil demand could peak around 2030.
During the administration of former US President Joe Biden, the IEA had expected global oil demand to peak this decade and argued that further investment in oil and gas would not be needed if the world aimed to meet its climate goals.
However, the Paris-based agency has faced pressure from the United States in recent years over its shift toward clean energy policies, with US President Donald Trump urging companies to boost oil and gas production.
The IEA said in its report that it had planned to assess new climate targets for countries covering 2031–2035, but not enough nations have submitted plans to provide a clear global picture.
Logo of the International Energy Agency (IEA)
The International Energy Agency (IEA) expects global oil and gas demand to continue growing through 2050, warning that the world is likely to fall short of its climate targets, according to its annual World Energy Outlook report released on Wednesday.
The agency said that under current policies, which reflect government actions rather than climate ambitions, oil demand could reach 113 million barrels per day by mid-century, up 13% from 2024 levels.
It also projected global energy demand to rise by 90 exajoules by 2035, an increase of 15% from current levels.
The IEA stressed that its scenarios explore a range of potential outcomes under different assumptions and are not forecasts. Under a scenario that considers policies proposed but not yet implemented, oil demand could peak around 2030.
During the administration of former US President Joe Biden, the IEA had expected global oil demand to peak this decade and argued that further investment in oil and gas would not be needed if the world aimed to meet its climate goals.
However, the Paris-based agency has faced pressure from the United States in recent years over its shift toward clean energy policies, with US President Donald Trump urging companies to boost oil and gas production.
The IEA said in its report that it had planned to assess new climate targets for countries covering 2031–2035, but not enough nations have submitted plans to provide a clear global picture.
