OPEC and IEA at odds on future of oil demand

Despite the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development energy watchdog, continuing to emphasise, and in no uncertain terms, that the era of oil demand growth is coming to an end, what is making Prince Abdulaziz bin Salman, the Saudi petroleum minister, so ebullient and convinced that the global crude demand will continue to grow in the decades to come? The International Energy Agency is strongly of the view that global oil demand growth is slowing down. And that by 2030, at the latest, global energy consumption would begin to go down. However, Prince Abdulaziz bin Salman and his team continue to be positive about the future crude oil demand scenarios. They are convinced that the global oil demand will continue to grow, at least until 2045. The IEA and the Organisation of the Petroleum Exporting Countries (OPEC) are on a warpath. The IEA and the OPEC and its allies in the OPEC+ are looking at the market conditions through completely different prisms, continuing to emphasise their respective, contradictory readings of the oil market sentiments.