Fuel Consumption Declines in Europe, China Booms, IEA Warns of Climate Risk

Fuel consumption in Europe is expected to decline significantly due to weak economic growth and reduced demand in the manufacturing and transportation sectors. China, on the other hand, is experiencing a surge in demand for diesel-type fuel due to its booming property sector and investments in petrochemical capacity. The International Energy Agency (IEA) warns that global warming is too high to meet the Paris Agreement goal of limiting temperature rise.