IEA sees more oil de­mand ahead

China Daily (USA) - - BUSINESS -

Global de­mand for oil is set to con­tinue ris­ing over the com­ing decades, but the pop­u­lar­ity of coal as a fuel will be eclipsed by liq­uid nat­u­ral gas and re­new­ables, a re­port from the In­ter­na­tional En­ergy Agency said on Wed­nes­day. Growth in crude con­sump­tion was fore­cast to be slow, in the an­nual World En­ergy Out­look un­veiled in London, but still reach 103.5 mil­lion bar­rels a day by 2040. Cur­rent de­mand is 96 mil­lion bpd. The IEA said al­most all of the growth in oil de­mand comes from four sec­tors: mar­itime in­ter­na­tional ship­ping, road freight trucks, jet fuel for avi­a­tion and de­mand for plas­tics from the petro­chem­i­cal in­dus­try, all ar­eas where al­ter­na­tives are hard to find.

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