Global oil demand is expected to keep rising over the next two decades, albeit at a steadily decreasing pace, according to a new report released Tuesday by the International Energy Agency. "It is far too early to write the obituary of oil, as growth for trucks, aviation, petrochemicals, shipping and aviation keep pushing demand higher," said Fatih Birol, executive director of the Paris-based IEA. "This is the equivalent of adding another China and India to today's global demand," the IEA said in its report. Along with the expected demand for oil, the IEA said natural gas use is projected to increase by 45 per cent to 2040. 'Absurdly pessimistic'Climate activists said the IEA report is too negative, but added that it highlights the need for more action to combat climate change.

Source: CBC News November 14, 2017 17:15 UTC