World will amass 'major' oil surplus by 2030: IEA
Global demand is expected to "level off" at 106 million barrels per day (bpd) toward the end of this decade while overall supply capacity could reach 114 million bpd, the IEA said in an annual report.
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A customer purchases gas at a station on June 11, 2024 in Chicago, Illinois. Despite gas prices in Chicago close to $5-per-gallon, nationwide the average price was $3.44 as of Monday, 14 cents less than last year, according to the AAA auto club. (Credit: AFP)
By NewVision Reporter
Journalists @NewVision
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PARIS - The world is likely to have a major surplus of oil by 2030 as production is ramped up while the clean energy transition tempers