Article 5QQ4C Energy crisis reignites demand for oil, threatening climate targets, says IEA

Energy crisis reignites demand for oil, threatening climate targets, says IEA

by
Jillian Ambrose Energy correspondent
from on (#5QQ4C)

International Energy Agency warns shortage of gas and coal could trigger oil market rebound

The worldwide energy crisis has reignited demand for oil, posing a threat to the world's climate ambitions and the global economic recovery from Covid-19, according to the International Energy Agency.

The global energy watchdog said the shortage of gas and coal across the biggest economies, which has caused energy markets to rocket, could trigger a faster-than-expected rebound in the oil market and drive demand to above pre-pandemic levels as soon as next year.

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