High demand for hydrocarbons will continue until 2050
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The International Energy Agency (IEA) expects consumption of the world’s three main fossil fuels – oil, gas and coal – to peak by 2030. This is stated in the annual review of the organization World Energy Outlook 2023 (WEO-2023).
Achieving maximum consumption volumes within these periods is provided for by all three scenarios considered by the agency, including the so-called Stated Policies Scenario, which takes into account only measures already being implemented in energy, industry and climate policy. The other two scenarios – the Announced Pledges Scenario and the Net Zero Emissions by 2050 Scenario – involve a more active implementation of the green agenda in the world.
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