15 Oct 2020

Oil Demand Expected to Decline in the Next Decade

15 Oct 2020  by Global News   
The International Energy Agency predicts the COVID-19 pandemic will deal a long-lasting blow to the global energy industry, with oil demand expected to end in 2030. Heather Yourex-West looks at what this means for Alberta's future. In, “World Energy Outlook 2020,” released Tuesday, the IEA said that prior to the pandemic energy demand was projected to grow by 12 per cent between 2019 and 2030, but growth over this period is now expected to be around nine per cent. However, if the pandemic is brought under control by 2021, growth projections are expected to fall further to just four percent. The Alberta government says despite the adjusted growth projections it's clear that demand for oil and gas isn't disappearing anytime soon.

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