Global demand for oil is forecasted to “flatten” in the 2030s, according to a new report by the International Energy Agency (IEA) released on Wednesday. It further predicts US shale will increasingly dim the influence of OPEC and overtake Russia, challenging the ability of OPEC+ to manage global exports. The IEA’s The World Energy Outlook 2019 sees energy demand as rising by 1% per year through 2040. However, it will be low-carbon sources, led by solar photovoltaics used to generate electric power, that supply more than half of this growth. Natural gas, the report says, will account for another third of that growth, ... (full story)