Story perspectives

IEA Forecasts Rising Oil Demand Amid Climate Risks

11/13/2025

Summary

IEA Projects Demand

The International Energy Agency (IEA) now expects global oil and gas demand to rise through 2050 under current policies.
The IEA projects oil demand could reach 113 million barrels per day by mid-century, about 13% above 2024.
The report projects a 2.9 degrees Celsius rise in global temperatures by 2100, underscoring risks to climate goals.
The findings reflect political pressures and uncertainties in energy policy, particularly from the United States.

Summary

IEA Warns Energy Security

The International Energy Agency (IEA) warns energy security threats are escalating and urges governments to diversify supplies and strengthen cooperation.
IEA projects electricity demand to grow rapidly due to data centers and AI.
The IEA notes global investment in energy supply is expected to reach $580 billion in 2025, surpassing oil-supply spending.
The IEA highlights vulnerabilities in critical mineral supply chains, with a single country dominating refining.

History

Historical Context

The 1973 oil crisis began when OAPEC imposed an embargo in response to U.S. support for Israel during the Yom Kippur War, leading to a nearly 400% increase in oil prices by March 1974. This crisis prompted Western nations to rethink energy policies, emphasizing energy security and diversification, lessons that remain relevant as current geopolitical tensions continue to impact global energy markets.

1 of 3

IEA Projects Demand

The International Energy Agency (IEA) now expects global oil and gas demand to rise through 2050 under current policies.
The IEA projects oil demand could reach 113 million barrels per day by mid-century, about 13% above 2024.
The report projects a 2.9 degrees Celsius rise in global temperatures by 2100, underscoring risks to climate goals.
The findings reflect political pressures and uncertainties in energy policy, particularly from the United States.

1 / 3