IEA, OPEC Divergence on Oil Demand Becomes Too Big To Ignore

Ever since the International Energy Agency switched from a pure-play information provider to an advocate of the energy transition, its forecasts about oil demand have shifted to increasingly reflect this advocacy. This has led to a growing divergence between the IEA's and OPEC's outlooks on the future of the commodity, increasing the risk of confusion among analysts and investors. The question "Who's right?" has become a legitimate one. To begin with, it's worth noting that neither authority is completely impartial. OPEC has a vested interest in…