Related Articles
The IEA warns concern over the future of assets is leading to low investment
Forward article link
Share PDF with colleagues

IEA cries wolf again

The agency may be overestimating demand and lowballing Opec supply to foresee a tighter market than will materialise

The IEA suggests in Oil 2021, its latest medium-term outlook, that there may be no return to normal for the world oil market in the post-Covid era. But it then appears to contradict its thesis in its own demand projections. Global oil demand is, admittedly, rebounding after an unprecedented collapse in 2020. But rapid changes in behaviour caused by the pandemic, including new working-from-home models and cuts to business and leisure travel—as well as accelerated commitments by governments towards decarbonising their economies—“have caused a dramatic downward shift in expectations for oil demand over the next six years”, while possibly pushing forward the timeline for peak oil demand. This,

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
South Africa’s energy sector and the just transition
27 October 2021
Continuous engagement by stakeholders crucial in ensuring energy sector is sustainable while also managing social impacts of shift
Var looks at IPO
27 October 2021
The Norway-focused IOC/private equity company is mulling a flotation
OGA takes aim at Elgin-Franklin laggards
26 October 2021
The UK upstream regulator is unhappy at partners in the field dragging their feet on the sale of ExxonMobil’s stake
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video