Oil consumption could continue to grow for 25 years

The International Energy Agency estimates that oil consumption could continue to grow for at least 25 years if governments do not commit more strongly to combating climate change. Until last year, the IEA believed that oil consumption would begin to decline as early as 2030. In the "Current Policies" scenario published this year, in which public policies implemented between 2025 and 2050 extend current policies, oil demand rises from 100 million barrels per day in 2024 to 113 million barrels per day in 2050. In this same scenario, the market share of electric vehicles peaks at 40% in 2035.