BP raises forecasts for oil and gas demand as clean energy switch slows

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Financial Times 2w ago

BP raises forecasts for oil and gas demand as clean energy switch slows - Financial Times

Quick Summary:

BP warned that delaying the clean power transition could be “costly” as it said oil would continue to “play a significant role in the global energy system for the next 10-15 years”.

The world was in an “energy addition phase” where the consumption of both low-carbon energy such as renewables and fossil fuels was increasing, said Spencer Dale, BP’s chief economist.

BP has raised its forecasts for oil and gas demand in the latest sign that the transition to clean energy has slowed.