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

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June 17, 2025 4:15 pm

A view shows disused oil pump jacks at the Airankol oil field operated by Caspiy Neft in the Atyrau Region, Kazakhstan April 2, 2025. REUTERS/Pavel Mikheyev/File Photo

+ IEA forecasts oil demand peak at 105.6 million bpd by 2029

+ China’s oil demand to peak in 2027 due to EV growth

+ US oil demand boosted by lower gasoline prices, slower EV adoption

Alex Lawler, Reuters

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