IEA: Asia To Account For 90% Of Global Oil Demand Growth Through 2025

Despite speculation that oil demand peaked in 2019, before the global pandemic hit the industry hard, a new IEA report suggests this assumption may have been overstated as demand is set to continue increasing until 2026.  Innovations in renewable energy and the decreased demand in response to the Covid-19 pandemic made experts believe the oil era was slowly losing momentum. However, as the Asian market grows and many countries return to pre-pandemic demand levels, this may not be true. According to the new IEA report, demand for oil could…