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Birol: Global demand for oil, gas and coal will peak this decade

The Executive Director of the International Energy Agency, Fatih Birol, expects that global demand for oil, gas and coal will reach a maximum in the coming years of this decade, as he wrote in a report for the Financial Times and reported by Agence France-Presse.

Birol warned of the repercussions of this demand on the battle against climate change, as it would prematurely reach the peak of greenhouse gas emissions.

He explained, based on the policies of world governments, that the demand for the three types of fossil fuels “is expected to reach its maximum in the coming years.”

He wrote in the newspaper, “This is the first time that demand for every type of fuel has reached its peak this decade,” pointing out that this happened sooner than expected.

Oil demand is expected to reach its maximum before 2030 with the increasing use of electric cars.

Gas demand is expected to decline later this decade in developed economies as the use of heat pumps and renewable energy increases as Europe no longer needs Russian supplies in the wake of the war in Ukraine.

As for coal, Birol said that demand for it would reach its maximum in “the next few years,” pointing to the decline in the volume of investments in fossil fuels and the growth in the use of renewable energy and nuclear energy in China, which is the largest consumer of coal.

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