The International Energy Agency (IEA) has revised its forecast of oil consumption, projecting a 10 million barrels a day lower demand in 2030 than in its previous analysis. The IEA's Executive Director, Nobuo Tanaka, has called current trends in energy supply and consumption unsustainable and has suggested that oil may lose its dominance in the energy mix. This shift could be driven by a combination of factors, including increased efficiency, the growth of renewable energy sources, and changes in government policies. The potential for oil to lose its dominance is a demand-side phenomenon, rather than a supply-side one.
