1/30, 2:12 AM (Source: TeleTrader)
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Chart for: BP PLC $0.25

BP revises down oil, gas demand forecast

BP p.l.c. said in its yearly report that oil demand in 2035 should amount to around 93 million barrels per day (bpd), a drop of 5% compared to last year's forecast, while natural gas demand will fall by 6%. The prediction takes into account the "broad trajectory of the world’s energy system" and predicts energy demand will peak between the late 2020s and 2035.

BP stated that the war in Ukraine will accelerate green energy investment. However, it predicts that global emissions will decrease by only 30% by 2050, compared to the 95% fall needed for the net-zero target. In its latest report, it forecast that carbon emissions will drop by 3.7% compared to last year's report.

Baha Breaking News (BBN) / DJ