Vehicles stuck in a heavy traffic jam on Delhi-Gurugram expressway
Reality bites for global climate ambitions
Real-world trends for rising oil use in the developing world cast increasing doubt on lofty emissions goals
The IEA published a five-year oil market outlook in mid-June. This is always a brave exercise, and it is even more so in the post-pandemic world and following Russia’s invasion of Ukraine. In Oil 2023: Analysis and Forecast to 2028, the agency has planted its flag firmly in the peak oil demand camp and rebutted a theme published in many previous editions that pointed out the dangers of insufficient investment in the upstream oil industry. As far as the peak oil argument is concerned, the IEA continues to show growth in demand from 99.8m b/d in 2022 to 105.7m b/d in 2028 (the limit of the forecast), with the editor of the report saying the agency is “pretty confident” of a definitive peak by
Also in this section
7 November 2025
The Russian company’s German assets are under Berlin’s management and are exempt from sanctions, for now, but a permanent solution still needs to be found
6 November 2025
The Russian firm made a significant attempt to expand overseas over the past two decades but is now divesting its global operations
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
5 November 2025
Construction of the pipeline in Afghanistan is making tangible progress, but extending it into Pakistan and India remains unrealistic for political reasons
