Oil could fall to $25 a barrel by 2050 if the government meets its target of reducing energy sector emissions to zero by mid-century. writes about this Reuters Citing a report by the International Energy Agency (IEA).
In a scenario based on current government policies, global oil demand is expected to reach record levels within the next six years. At its peak, it will be just under 102 million barrels per day (b/d).
After 2030, energy demand will begin to decline and in 2035 will return to 99 million barrels per day in 2023 due to reduced demand from the transportation sector as the use of electric vehicles increases. In the current scenario, oil prices will fall to $75 per barrel in 2050.
The day before the price of Brent oil fell It fell below $75 for the first time since early October.
The oil market before guess surplus this year.