China, India becoming key drivers of energy demand

Associated Press

The International Energy Agency says China and India are becoming the world's main drivers of energy demand as the United States continues to boost its domestic production of oil and gas.

The IEA's executive director, Maria van der Hoeven, says Asia's "demand and thirst for energy in all its forms will be tremendous" while turning into the "main center of the global energy trade."

In its 2013 World Energy Outlook report, the Paris-based IEA on Tuesday also noted that while new oil sources being exploited around the world — from oil sands in Canada to deepwater wells in Brazil — will temporarily diminish demand for crude from OPEC, the Middle East will remain a crucial provider in the longer term.

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