IAEA changes its outlook for #oil #energy #shorts

Demand Forecast - IEA revises its oil demand forecast, projecting a 13% increase by 2050 instead of a plateau [1] - Global oil demand is expected to rise from 100 million barrels per day to 113 million barrels per day by 2050 [2] - Oil prices are projected to hover near $90 per barrel by 2035 [2] Market Implications - The report suggests that fossil fuels still have significant potential [2] - The revised demand scenario indicates a more challenging path to net zero emissions by mid-century [2] - The report serves as a reminder that oil remains relevant in the transition to net zero [3]