The world's energy and fossil fuel consumption is set to hit a record high in 2024 despite high prices and supply disruptions.
Global energy and fossil fuel consumption is set to defy wars and high prices and hit a record high level in 2024, led by strong Asian demand, the Economist Intelligence Unit said in a new report on Wednesday. Next year, global energy consumption is expected to increase by 1.8%, according to the EIU report.
Global oil demand is set to rise by 2.4 million barrels per day bpd to a new record-high this year and by another 2.2 million bpd next year amid an improving Chinese economy, OPEC said in its latest monthly report earlier in October, leaving its demand forecast for both 2023 and 2024 unchanged, despite fears of slowing economies and demand destruction. World oil demand is set to reach a record average of 102.1 million bpd in 2023, driven by a 2.
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