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    Home > Chemicals Industry > Chemical Technology > IEA: Crude oil prices may only recover to $80 by 2020

    IEA: Crude oil prices may only recover to $80 by 2020

    • Last Update: 2022-11-20
    • Source: Internet
    • Author: User
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    Recently, the International Energy Agency IEA released the "2015 Global Energy Outlook", which said that the price of crude oil per barrel in the process of energy transition is now below $50, and may only recover to $80 by 2020, after which crude oil prices will show a slow growth trend
    .

    According to the IEA, investment in crude oil exploration and production fell by 20% in 2015, and high-cost projects in the United States, Canada, Russia and Brazil continue to be put on hold
    .
    The rapid growth of renewable energy projects will lead to a significant decline in carbon emission growth, but the International Energy Agency calculates that it is still in the process of contributing to 2.
    7 degrees of global warming, which is significantly above the danger line
    of 2 degrees.

    IEA Director-General Birol said global leaders attending the Paris meeting must set a clear direction
    for accelerating the global energy transition.
    The International Energy Agency believes that coal consumption will decline overall, and that the share of coal power generation will fall to 15%
    by 2040.
    Birol said changes in China were a major factor in the decline in coal use; But demand for coal in India and Southeast Asia will triple by 2040, and these regions will be the only places where global coal demand will grow; India will be the main driver of global coal and crude oil demand growth by 2040, and India's choices are important to all to support the promotion of clean and effective technologies
    .

    Recently, the International Energy Agency IEA released the "2015 Global Energy Outlook", which said that the price of crude oil per barrel in the process of energy transition is now below $50, and may only recover to $80 by 2020, after which crude oil prices will show a slow growth trend
    .

    crude

    According to the IEA, investment in crude oil exploration and production fell by 20% in 2015, and high-cost projects in the United States, Canada, Russia and Brazil continue to be put on hold
    .
    The rapid growth of renewable energy projects will lead to a significant decline in carbon emission growth, but the International Energy Agency calculates that it is still in the process of contributing to 2.
    7 degrees of global warming, which is significantly above the danger line
    of 2 degrees.

    IEA Director-General Birol said global leaders attending the Paris meeting must set a clear direction
    for accelerating the global energy transition.
    The International Energy Agency believes that coal consumption will decline overall, and that the share of coal power generation will fall to 15%
    by 2040.
    Birol said changes in China were a major factor in the decline in coal use; But demand for coal in India and Southeast Asia will triple by 2040, and these regions will be the only places where global coal demand will grow; India will be the main driver of global coal and crude oil demand growth by 2040, and India's choices are important to all to support the promotion of clean and effective technologies
    .

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