Tuesday, October 27, 2020
Under the IEA's baseline 'Stated Policies Scenario', global oil demand plateaus in the 2030s, but there is no significant decline thereafter.
- Upstream investment in oil will be needed to address natural decline, but uncertainty will grow over the financial viability of projects.
- Rising use of electricity to deliver energy requires heavy investment in all aspects of the power system; insufficient spending is a risk.
- To remain an energy transition destination fuel, the natural gas sector will have to retool as a decarbonised energy source.