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Multinational Overview

Multinational

in figures

World oil production:94.7 million bopd

World oil consumption:99.8 million bopd

World energy consumption, all sources combined:13.9 billion toe

World renewable energy consumption:561.3 million toe

The future of the multinational energy mix

The International Energy Agency (IEA) in its World Energy Outlook annual report presents a set of scenarios exploring different futures, measures – or the absence of measures – which make them possible and the interconnections between components of the system.
The “current policies” scenario illustrates what happens if the world continues its current trajectory without the adoption of additional measures. In this scenario, energy demand will grow by 1.3% per year until 2040, and the boom in demand of energy services won’t be limited by any additional effort to improve energy efficiency. If this figure is much lower than the notable growth of 2.3% recorded in 2018, the result will nonetheless be steadily increasing energy-related emissions, as well as increased pressure on most aspects of energy security.
The “stated policies” scenario goes further and integrates the intentions and objectives confirmed by policies. This scenario was renamed in order to emphasize that it only takes into account political initiatives already announced and accompanied by specific programmes. The objective is to present a mirror to the strategies of political decision makers and to illustrate the consequences, not to guess how political priorities will evolve in the future.
In the “stated policies” scenario, energy demand grows by 1% per year until 2040. Low-carbon energy sources, primarily solar photovoltaic (PV), respond to more than half of this growth and natural gas, stimulated by the growth in LNG trade, represents a third. Oil demand plateaus in the 2030s and coal consumption decreases slightly.
Certain energy sectors, in particular the electricity sector, are undergoing rapid transformation. Several countries, especially those aspiring to carbon neutrality, are carrying out a significant overhaul of their supply and consumption. However, the development of low-carbon technologies is not enough to offset the effects of global economic and demographic growth. Although the increase in emissions slows down in this scenario, in the absence of a peak before 2040, common sustainable development goals remain out of reach.
The “sustainable development” scenario proposes a trajectory allowing achievement of the sustainable development objectives relating to energy, which requires profound and rapid changes at all levels of the energy system. This scenario defines a trajectory perfectly in accordance with the Paris Agreement by containing the elevation in global temperatures well below 2 degrees Celsius and continuing the action conducted to limit them to 1.5 degrees Celsius. It also meets the objectives of universal access to energy and improving air quality.

Investors await upcoming OPEC+ meeting
NEWS
Multinational - June 25, 2021

Oil was up Friday morning in Asia, ending the week with small gains in an otherwise volatile session as investors await an…

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Oil price in focus ahead of OPEC+ meeting
NEWS
Multinational - June 23, 2021

Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated…

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Brent tops $75 as signs of tightening market emerge
NEWS
Multinational - June 22, 2021

Oil was up Tuesday morning in Asia, with signs emerging of a rapidly tightening market.

Brent oil futures were up 0.32% to $75.14 by 4:41 PM ET (4:41 AM GMT), after…

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Oil up over delay in Iran nuclear deal talks
NEWS
Multinational - June 21, 2021

Oil was up Monday morning in Asia, with a strong start to the summer driving season underpinning the gains. The black liquid also benefitted from the pause in talks to…

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Brent records fifth consecutive gain
NEWS
Multinational - June 16, 2021

Oil was up Wednesday morning in Asia as a larger-than-expected draw in US crude oil supplies and the ever-brightening fuel demand outlook in some countries gave the…

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Talks to add Iranian supply continue
NEWS
Multinational - June 15, 2021

Oil was up Tuesday morning in Asia, as talks over Iran adding to the global supply continue and alleviate investor concerns.

Brent oil futures were up 0.33% to…

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Oil down from multi-year highs
NEWS
Multinational - June 07, 2021

Oil was down Monday morning in Asia, as investors await talks between Iran and world powers later in the week that could lead to increased Iranian supplies

Brent…

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NEWS
Multinational - June 02, 2021

Oil was up Wednesday morning in Asia, remaining at the highest level since Oct. 2018, as the Organization of the Petroleum Exporting Countries and…

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NEWS
Multinational - May 31, 2021

Oil was up Monday morning in Asia on the back of an ever-brightening fuel demand outlook. Investors also now turning their focus to the Organization…

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NEWS
Multinational - May 28, 2021

Oil was up Friday morning in Asia, ending the week by extending gains from the highest close in more than two years. Optimism as US fuel demand…

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