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IEA predicts increase in oil and gas consumption by 2050

The IEA predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

The International Energy Agency’s (IEA) World Energy Outlook predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

The IEA projected that oil demand could reach around 113 million barrels per day (mbbl/d) by mid-century, an increase of roughly 13% from 2024 consumption.

The agency also predicted that global liquefied natural gas (LNG) capacity could expand to roughly 1.02 trillion cubic metres.

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Source: yahoo!finance

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