Crude oil demand set to decline in 2030: IEA sees first drop since Covid, supply growth to be led by US and Saudi Arabia
Global oil demand will decline slightly in 2030 for the first time since the 2020 Covid shock, the International Energy Agency (IEA) said on Tuesday, as slower economic growth, electric vehicle adoption, and energy transition efforts reshape the market.In its annual Oil 2025 outlook, the Paris-based agency forecast that global oil consumption would peak at…
