Published:

13 oct 2021 09:32 GMT

The World Energy Outlook 2021 report considers three possible developments of events and in all of them there would be a greater or lesser reduction in the demand for crude oil.

The International Energy Agency (IEA) predicts for the first time a drop in global oil demand, reveals the annual World Energy Outlook 2021 report published on Monday. The document contemplates three possible scenarios, but the demand for crude would be reduced in either case.

The first variant, called the Declared Policy Scenario (STEPS), takes into account existing climate strategies, including those that have not yet been adopted. In this case, the demand for fossil fuels would slow down to a plateau in the 2030s and then it would drop slightly by 2050.

Next, the Announced Commitments Scenario (APS) assumes that all countries fulfill their assumed climate commitments. In this context, the demand for oil would peak at the end of this decade And then it would start to fall

The third variant is the Zero Net Emissions Scenario for 2050 (NZE), which implies achieving zero emissions of carbon dioxide for that year and implies a more significant drop in oil demand. Based on this scenario, the maximum demand has already been exceeded and by 2030 it will fall to just over 70 million barrels per day.

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