Global oil demand 'to rise 14% by 2035': IEA

Nov 09, 2011

Global oil demand is set to grow by 14.0 percent by 2035, pulled by China and emerging economies and the price could reach 120 dollars per barrel, the IEA said in its annual report on Wednesday.

"Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system," the said.

"Growth, prosperity and rising population will inevitably push up energy needs over the coming decades," IEA executive director Maria van der Hoeven said.

"But we cannot continue to rely on insecure and environementally unsustainable use of energy," she added.

The agency estimated in its World Energy Outlook publication that for oil would total 99 million barrels per day in 2035, or 12 mbd more than in 2010, and said that the price could reach $120 per barrel despite current price volatility.

Explore further: Storing solar energy

add to favorites email to friend print save as pdf

Related Stories

Change needed to avoid 'dire' energy future: IEA

Oct 19, 2011

The world faces a "dire" future unless a complete change of course is made to deal with the huge problem of surging energy demand, the International Energy Agency warned on Wednesday.

Room for nuclear energy in the future: new IEA chief

Sep 07, 2011

The new chief of the International Energy Agency Maria van der Hoeven said Wednesday nuclear power will have a place in the future despite the Fukushima catastrophe and the decision by some countries to opt ...

IEA calls for scrapping $312 bln in fuel subsidies

Apr 06, 2011

The International Energy Agency is calling for 312 billion dollars in fuel subsidies to be scrapped in a bid to promote clean energy sources, according to a report presented in Abu Dhabi on Wednesday.

End to cheap coal closer than we thought?

Nov 22, 2010

(PhysOrg.com) -- A report entitled "The End of Cheap Coal," published in the journal Nature by Richard Heinberg and David Fridley, suggests we may reach peak coal in the next two decades.

Recommended for you

Storing solar energy

7 hours ago

A research project conducted by Leclanché S.A., the Ecole Polytechnique Federale de Lausanne (EPFL), Romande Energie and with the financial support of the Canton of Vaud could bring a real added value in ...

Scientists get set for simulated nuclear inspection

11 hours ago

Some 40 scientists and technicians from around the world will descend on Jordan in November to take part in a simulated on-site inspection of a suspected nuclear test site on the banks of the Dead Sea.

User comments : 3

Adjust slider to filter visible comments by rank

Display comments: newest first

rwinners
1 / 5 (2) Nov 09, 2011
"Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system,"

A joke, yes? The world is already locked in this position and the conventional energy producers are winning the battle to keep it so.
unknownorgin
1 / 5 (2) Nov 10, 2011
It appears the this IEA is just another group like greenpeace. like everything else it takes a large amount of money to convert the infrastructure to other energy sources and it has to show a profit to expand.
rawa1
4 / 5 (1) Nov 10, 2011
Every international agency is sort of communism, because it's not driven with principles of free market. But the free market works as badly at the global level as the communism at the local level. There is no universal principle, which is working well at all levels - just a long term economy. But free market operates with real prices only, it doesn't care about future.