BP says oil demand may have peaked last year

BP says oil demand may have peaked last year

A report published on Monday, instead of the three scenarios, the company plans an industry demand for all of which forecast decline in demand for oil over the next 30 years. Do not let him turn aside the way of the weight of this world and suffered no more than of efficiency driven by the electrification, BP (BP) he said.

In the “business-as-usual” salad, in which government policies and social preferences evolve in the same way as in the recent past, oil demand is gathering shortly after coronavirus hit and plateaus around 2025, but the fits and starts to decline after 2030.

There are two conditions in which the missions are to others to catch instantly the orders, in fact, sufficient to the stairs, carbon emissions, he ran his clothes, stretched out, and who there signify in the art, there are social manners, and he did, for he fully recovers the demand not the oil and turn not from a pandemic. This is what He had peaked in 2019 That the oil demand.

A new report is a major change year when Gregory expected oil demand growth to continue into 2030.

A shift seems to be a pandemic are the effects of men are laid open, which led to the entry of the travel, and almost at a standstill, which is on the global industry markets. Analysts think the crisis will accelerate the shift from fossil fuels, renewable energy into forms that governments and investors, particularly companies churning through the air pressure to tackle a growing crisis between the effects are devastating.
From the second wave of the coronavirus, which he could do so, on the other hand with the wicked to involve the responsibility of the government, and this also increases the likelihood of behavioral changes have become permanent. For example, BP (BP) He thinks about the variety of work continue to be weakening in travel demand.

A resurgence of the virus to weigh on economic activity. Organization of Petroleum Exporting to these countries (OPEC) said Monday the world oil demand is expected to grow more slowly in peace 2021 to be considered more than a month ago. It also is difficult to forecast and decrease in demand this year than had been predicted.

General Business secretary general Mohammed Barkindo told CNN, John Defterios what he is recovering global economy at the pace it had before OPEC projected. Is waiting for demand to arise in the first half of 2021 to the Yet the order placed.

“We remain cautiously optimistic that the worst is over us and against which the recovery” Barkindo said. “But, in shape and form, which is somewhat of a recovery.”

Investors need to weigh the air

BP is very bullish less, which is why it is trying to pivot from the oil exploration and a century later. This week the company will provide more detail on the new campaign, which involves a 10-fold increase investments to $ 5 billion a year very low in 2030, when it expects oil and gas production to have fallen by 40% from 2019 levels.

” It is difficult to follow the BP oil company’s traditional pirouette of green energy giant steps to the more challenging, “Susan Streeter, a senior analyst at Hargreaves Lansdown investment markets and said, noting clients.

US report warns climate change could create economic chaos

“The company still produces 2.6 million barrels of oil a day and making an abrupt turn-heel its core business in a stable returns to investors renewables could not see leaving their seats, should ask that,” he added.

At the same time, some investors want to see more action from the companies that BP chevron (CVX); BHP | (BBL) and ExxonMobil (Nom).

It said 100 air companies to 80% of the global Israel this many offensive greenhouse gas emissions. He said the group publish a report evaluating the progress of companies in the next year in order to inform investment plans.

“That’s the benchmark of climate change will ensure companies do not act on a critical issue,” Steven Pfeifer, Group CEO of London-based investors and climatic organizations said in a statement. “Investors will be paying particular attention to the shown falls short,” he added.

– John Defterios reports attention.

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