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Peak in global oil demand ‘in sight before end of decade’

International Energy Agency says demand will grow by 2.4m barrels a day in 2023 to record 102.3m

Shell drops target to cut oil production

The worldwide peak in demand for oil is “in sight” and could come before the end of this decade, the global energy watchdog has said.

The International Energy Agency said the bounceback in oil demand that followed the easing of Covid restrictions was likely to end this year and growth would slow from next year.

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