Paris, France: The International Energy Agency (IEA) announced that global demand for oil and gas may continue to rise until 2050, marking a departing from its previous forecasts that had predicted a faster shift toward clean fuels.
The Agency, headquartered in France, said in its World Energy Outlook 2025 report that oil demand could reach 113 million barrels per day by mid-century, an increase of 13% compared to 2024 levels. It added that global energy demand is expected to rise by 15% by 2035 under the current policies scenario, which assumes the continuation of existing government measures without factoring in more ambitious climate goals.
The report also pointed to a significant potential increase in liquefied natural gas (LNG) projects, with around 300 billion cubic meters of additional export capacity to be added by 2030. This would expand the market from 560 billion cubic meters in 2024 to more than one trillion cubic meters by 2050, driven by growing demand in sectors such as artificial intelligence and data centers.
The IEA further projected that investments in data centers could reach USD 580 billion in 2025, surpassing global annual spending on oil, which currently stands at around USD 540 billion.
