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IEA: Oil Demand to Surge Despite Climate Pledges

11/12/2025

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Summary

Story summary

On November 12, 2025, the International Energy Agency (IEA) said oil and gas demand may grow through 2050.
The IEA forecasts oil demand could reach 113 million barrels per day by mid-century.
Global energy demand is projected to rise 15% by 2035.
Despite pledges to limit warming to 1.5°C, the IEA says the target will not be met.
New LNG projects are set to raise supply by 50% by 2030.

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Story summary

On November 12, 2025, the International Energy Agency (IEA) said oil and gas demand may grow through 2050.
The IEA forecasts oil demand could reach 113 million barrels per day by mid-century.
Global energy demand is projected to rise 15% by 2035.
Despite pledges to limit warming to 1.5°C, the IEA says the target will not be met.
New LNG projects are set to raise supply by 50% by 2030.