The International Energy Agency (IEA) has reinstated a scenario in which global energy consumption continues to grow until the middle of the century.

In last year’s report, the IEA projected that oil demand would plateau or even decline within this decade. However, the agency now presents a scenario where consumption rises by 13% by 2050. This increase is largely driven by a slower pace of electric vehicle adoption worldwide.

Hamzeh Al Gaaod, MENA Analyst at TS Lombard, discussed these developments with Bloomberg’s Jennifer Zabasajja on the program *Horizons Middle East and Africa*.

(Source: Bloomberg)
https://www.bloomberg.com/news/videos/2025-11-12/al-gaaod-less-bullish-but-agree-with-opec-outlook-video