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World’s thirst for oil to keep growing until 2030s

PARIS - An important global energy forecast says the world’s thirst for oil will continue to grow until the 2030s and climate-damaging emissions will keep climbing until at least 2040.

In its annual long-term outlook, the International Energy Agency called Wednesday for “strong leadership” from governments to bring down emissions.

It forecasts that growing demand for SUVs could negate the environmental benefits of electric vehicle growth. And it says current investment in renewable energy is “insufficient” to meet the needs of growing populations, notably in cities across Asia and Africa.

The IEA forecast global oil demand of 106.4 million barrels a day in 2040, up from 96.9 million last year.

The IEA’s World Energy Outlook is increasingly important to governments because of its relevance to climate policy.
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