Oil and gas demand could continue to grow until the middle of the century, according to a new International Energy Agency scenario that shifts away from previous expectations of so-called peak oil demand because of slower adoption of green technologies.
The Paris-based agency, which represents oil-consuming nations, said that under this scenario, demand for oil and natural gas would continue to grow to 2050, while coal goes into a decline before the end of this decade.
The IEA had previously scrapped this model and focused on one where renewables and the speedy adoption of electric cars would lead the world to wean itself from oil and gas in the years ahead. But a change in policies in the U.S. toward heavier reliance on fossil fuels and the potential for a slower-than-expected take up

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