OPEC Criticizes IEA's Peak Oil Demand Forecast

On Wednesday, the IEA's report predicted global oil demand would peak in 2029, casting a bearish outlook on the oil market.

On Thursday, OPEC's Secretary-General criticized this prediction, arguing it could mislead consumers and cause unprecedented market volatility. He asserted that global oil demand would not peak by 2029, emphasizing the ongoing growth in demand as billions of people worldwide still lack access to energy.