Global demand for oil increases by about ____ per year.
A) 2 percent
B)0.5 percent
C) 25 percent
D) 10 percent

Question

Quizplus · Accepted Answer

According to the International Energy Agency (IEA), global demand for oil is expected to grow by an average of 1.2 million barrels per day (mb/d) each year from 2020 to 2025, which is roughly a 1.2% increase per year. However, this rate may vary from year to year due to factors such as economic growth, energy policies, and technological advancements. Over the long term, the IEA projects that global demand for oil will continue to increase due to population growth, rising incomes, and increasing energy demand from developing countries.

Global Demand for Oil Increases by About ____ Per Year