OREANDA-NEWS Global demand for oil and liquefied natural gas (LNG) will continue to grow until the middle of this century. This was reported by Reuters with reference to the latest forecast of the International Energy Agency (IEA).

According to analysts of this organization, if the current policy is maintained, oil demand will reach 113 million barrels per day by the middle of the century, which is about 13 percent more than consumption in 2024. In 2035, global energy demand will grow by 90 exajoules, which is 15 percent more than the current level.

As for LNG, the IEA forecasts that its market will grow from about 560 billion cubic meters in 2024 to 880 billion cubic meters in 2035 and to 1,020 billion cubic meters in 2050. This dynamic will be driven by increased demand in the energy sector, fueled by the development of data centers and artificial intelligence.

When Joe Biden was president of the United States, the IEA predicted that global oil demand would peak this decade, and stated that the world did not need additional investments in oil and gas to achieve climate goals.

According to World Bank forecasts, in 2026 global commodity prices will fall to the lowest level in the last six years.