IEA: crude oil demand will continue to grow until 2040

According to foreign media reports, the International Energy Agency (IEA) said on Wednesday that the world's dependence on fossil fuels is far from over. Despite the commitments made at last year's climate change summit in Paris to limit greenhouse gas emissions, crude oil demand is expected to continue to grow until 2040.

"It is difficult to find alternatives to crude oil in the areas of road freight, aviation and petrochemicals, which means that before 2040, the growth rate of crude oil demand in these three areas alone will be higher than that of global crude oil demand," IEA said in its annual World Energy Outlook report.

The core scenario proposed by IEA in the report is that global oil demand is likely to grow by nearly 12% to 103.5 million barrels / day in 2040, compared with 92.5 million barrels / day in 2015. India will be the main source of demand growth, while China will replace the United States as the world's largest consumer of crude oil in the first few years of the 2030's.