observe a decline in oil consumption

According to French media, the annual report issued by the International Energy Agency on the 13th suggested that it would take 2040 to observe a decline in oil consumption. Before that, demand will grow by 12% and reach 106 million barrels a day in 22 years.

According to the French website Echo on November 17, this is slightly higher than previous forecasts, mainly because the International Energy Agency took into account Trump's announcement this year to relax carbon emission standards for American automakers.

If demand growth is unstoppable, the world's largest oil-consuming and oil-producing countries will gradually change, the report said.

Until 2025, the annual growth rate of global oil demand will increase by 1 million barrels per day. After that, the growth rate will slow down, increasing the daily demand by 250 thousand barrels.

But behind this general growth, there is a hidden imbalance of development. In fact, oil consumption in developed countries will decline by about 400,000 barrels a day by 2040. This is mainly due to the efforts of the energy economy.

Reports say North America, the European Union and China occupy the top three oil consumption era.