World oil demand to keep growing this decade despite 2027 China peak, IEA says

LONDON: Global oil demand will keep growing until around the end of this decade despite peaking in top importer China in 2027, as cheaper gasoline and slower electric vehicle adoption in the United States support oil use, the International Energy Agency said on Tuesday. The IEA, which advises industrialized countries, did not change its prediction that demand will peak this decade, a view that sharply contrasts with that of producer group the Organization of the Petroleum Exporting Countries, which says consumption will keep growing and has not forecast a peak.

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