The International Energy Agency (IEA) foresees for the first time a drop in global oil demand, reveals the report Annual World Energy Outlook 2021 published this 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 comply with 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 carbon dioxide emissions 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.