Story perspectives

IEA Predicts 13% Oil Demand Surge by 2050

11/13/2025

Summary

Story summary

The International Energy Agency (IEA) reports in its 2025 World Energy Outlook that under the Current Policies Scenario oil demand could reach 113 million barrels per day by 2050, up 13% from 2024.
By contrast, the Stated Policies Scenario forecasts a peak in fossil fuel use around 2030.
The report notes rising energy needs in emerging economies, especially India and Southeast Asia.
It urges new investments in oil and gas infrastructure to maintain market balance.

History

Historical Context

The 1973 World Oil Crisis emerged from the Arab oil embargo, initiated by OAPEC in response to U.S. support for Israel during the Yom Kippur War. This led to a staggering 400% increase in oil prices, severely impacting economies worldwide, particularly in the U.S. and Europe. The crisis highlighted the need for sustainable energy solutions, a concern echoed in today's rising oil demand in emerging markets.

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Story summary

The International Energy Agency (IEA) reports in its 2025 World Energy Outlook that under the Current Policies Scenario oil demand could reach 113 million barrels per day by 2050, up 13% from 2024.
By contrast, the Stated Policies Scenario forecasts a peak in fossil fuel use around 2030.
The report notes rising energy needs in emerging economies, especially India and Southeast Asia.
It urges new investments in oil and gas infrastructure to maintain market balance.

1 / 2