The International Energy Agency's latest outlook signals that oil demand could keep growing through to the middle of the century, reflecting a sharp tonal shift from the world's energy watchdog and raising further questions about the future of fossil fuels .

In its flagship World Energy Outlook , the Paris-based agency on Wednesday laid out a scenario in which demand for oil climbs to 113 million barrels per day by 2050, up 13% from 2024 levels.

The IEA had previously estimated a peak in global fossil fuel demand before the end of this decade and said that, in order to reach net-zero emissions by 2050, there should be no new investments in coal, oil and gas projects.

The concept of peak oil refers to the point at which global crude production reaches its highest point, before

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