The IEA warns concern over the future of assets is leading to low investment
IEA cries wolf again
The agency may be overestimating demand and lowballing Opec supply to foresee a tighter market than will materialise
The IEA suggests in Oil 2021, its latest medium-term outlook, that there may be no return to normal for the world oil market in the post-Covid era. But it then appears to contradict its thesis in its own demand projections. Global oil demand is, admittedly, rebounding after an unprecedented collapse in 2020. But rapid changes in behaviour caused by the pandemic, including new working-from-home models and cuts to business and leisure travel—as well as accelerated commitments by governments towards decarbonising their economies—“have caused a dramatic downward shift in expectations for oil demand over the next six years”, while possibly pushing forward the timeline for peak oil demand. This,
Also in this section
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
