The International Energy Agency (IEA) has warned that global demand for oil and gas could continue rising until 2050, raising concerns over the world’s ability to meet climate goals.
In its latest World Energy Outlook, the IEA projects oil demand reaching 113 million barrels per day by 2050, up 13 percent from 2024, while overall energy consumption is expected to grow 15 percent by 2035.
The report, based on current national policies rather than aspirational climate commitments, also highlights a surge in liquefied natural gas investments, with 300 billion cubic meters of new export capacity expected by 2030. The agency cautioned that these scenarios reflect possible outcomes under existing policy frameworks, signaling that without stronger action, global efforts to transition to cleaner energy may fall short.