Southeast Asia’s net crude oil imports will more than double by 2040 as the region adds new refining capacity to meet rising demand while oil output falls, according to the International Energy Agency (IEA). The region, together with China and India, will account for about two-thirds of global oil demand growth over the next 20 years.  The growth in demand in the region will come mainly from the increase in cars on the roads. Despite the rise in electric vehicles (EV) adoption, the IEA says, petroleum fuels will continue to dominate Southeast Asian markets, satisfying 90 percent of transport-related energy demand.