The Current Policies Scenario shows what happens if the world continues along its present path, without any additional changes in policy. In this scenario, energy demand rises by 1.3% each year to 2040, with increasing demand for energy services unrestrained by further efforts to improve efficiency. Oil 2019, the annual IEA outlook for global oil markets, examines the key issues in demand, supply, refining and trade to 2024. This year, the report covers the following themes: a changed supply picture led by the rise of the United States in world markets thanks to rapidly-growing shale oil Oil markets are going through a period of extraordinary change as the United States is increasingly leading the expansion of global oil supplies, and demand is shifting from developed economies and transportation fuels to Asia and petrochemicals.